Novopharm Limited becomes Teva Canada Limited

Leading generic pharmaceutical company rolls out new name to align with global presence

TORONTO, ON, Feb. 16, 2010 /CNW/ - Teva Novopharm announced today it is implementing a name change to Teva Canada Limited, which reinforces the company's relationship with its parent, Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA), the world's largest generic pharmaceutical manufacturer.

"We've been part of the Teva family for 10 years now," said Barry Fishman, President & CEO of Teva Canada Limited. "The timing of this anniversary year was right to align our brand and our presence more closely with that of our global organization, Teva Pharmaceutical Industries Ltd."

Teva Canada offers an industry-leading portfolio of pharmaceuticals; in fact, the company can supply more than 85 percent of a Canadian pharmacy's requirement for generic prescription medications. Teva Canada has also been Canada's No. 1 generic company in new product launches over the past three years.

"A company's name is more than just our logo," said Mr. Fishman. "It represents our business philosophy, the identity of our people and our promise to our stakeholders. For the past 10 years, we've been part of Teva, a global company with operations in over 60 countries, with over 35,000 employees, whose products are used to dispense over a billion prescriptions around the world each year. We believe it is time to accentuate this relationship more directly through our branding."

Founded by pharmacist and entrepreneur, Leslie Dan, 45 years ago, Novopharm Limited is a leading generic pharmaceutical company in Canada. After years of steady expansion, Novopharm joined forces with Teva Pharmaceutical Industries Ltd. on April 4, 2000. Today, Teva Canada employs 1,400 employees across Canada, most notably at its three facilities, in Stouffville, Markham and Toronto, Ontario. These facilities manufacture and distribute high-quality, affordable pharmaceutical products and are integral players in our global supply chain network.

In addition to its pharmaceutical products, Teva Canada also supports pharmacist professional development and provides accredited continuing-education courses and programs for pharmacists and pharmacy technicians.

About Teva Canada Limited

Teva Canada Limited is a leader in providing affordable healthcare solutions to Canadians. Originally Novopharm Limited, Teva Canada specializes in the development, production and marketing of generic pharmaceuticals, and consistently provides high-quality, affordable pharmaceuticals. For 45 years, Teva Canada has built professional and consumer confidence as one of Canada's leading pharmaceutical companies. Teva Canada is proud to be a part of Teva Pharmaceutical Industries Ltd., the world's largest generic pharmaceutical company.

About Teva

Teva Pharmaceutical Industries Ltd., headquartered in Israel, is among the top 20 pharmaceutical companies in the world and is the leading generic pharmaceutical company. The company develops, manufactures and markets generic and innovative pharmaceuticals and active pharmaceutical ingredients. Over 80 percent of Teva's sales are in North America and Western Europe.

For further information: Denise Bradley, Sr. Director, North America Corporate Communications, Teva North America, [email protected], [phone]