Saving Billions While Fueling Economies: Teva’s Economic Impact Report
Every day, Teva develops, manufactures and supplies quality, essential medicines. Now, Teva’s first-ever Global Economic Impact Report sheds light on how our work impacts economies around the world.
The report highlights the contributions of Teva’s economic activity to jobs, gross domestic product (GDP) and labor income, as well as the billions of dollars in healthcare savings from our generic medicines. Based on an independent analysis by Matrix Global Advisors (MGA), a Washington DC-based economic policy firm, the report reviews Teva’s economic impact in 19 of the 60 countries in which we operate. These countries represent 85% of Teva’s direct economic activity.
“In 2018 alone, Teva’s generic medicines saved healthcare systems more than $55 billion,” said Mati Gill of Teva Government Affairs and Public Policy. “It’s inspiring to see how the quality, affordable medicines we deliver each day translate to more money in the pockets of patients. We’re proud of our dedicated employees, who help us support sustainable healthcare systems around the world—that’s what this report is all about.”
Here’s a look at the US findings:
- Generics saved the healthcare system $293 billion, and Teva was responsible for $42 billion of these savings
- That’s $3.7 billion savings attributable from Teva Generics in California in 2018; $2.7 billion in Florida, $1.9 billion in Pennsylvania and $1.1 billion in NJ
- We supported more than 57,300 jobs in the US in 2018
- Teva contributed $15 billion to GDP and generated $4.8 billion in labor income
Teva makes more than 3,500 products and reaches 200 million people each day. This report showcases the impact of our business on patients, healthcare systems and economies. Beyond offering medicines, we also contribute to our communities through programs and partnerships that improve health and well-being, as well as through monetary and product donations that bring critical medicines and resources to those in need.
|To learn more about our economic impact, see Teva’s US Economic Impact Report|