Future investments will bring the total outlay to $80 million. The Jerusalem facility is the "largest of its kind in the world" and will have the capacity to produce products worth more than $500 million a year, according to company president Israel Makov.
The plant is located in the high-technology center of Har Hotzvim, between the suburban Jerusalem community of Ramot and the Sanhedria neighborhood of the capital.
Four billion tablets a year for 100 different products will be produced, and production capacity will double after future investment, Teva reported.
The company operates 19 other plants around the world and employs 14,000 people, including 4,000 in several Israeli plants. Makov said Teva decided to build the facility in Jerusalem, despite the lack of economic advantages, after pressure from city officials and agreeing to the importance of strengthening the city's economic base.
"We hope that other companies will follow in our footsteps," Makov added.
Teva has been a darling among investors, doubling the advance of the Dow Jones Pharmaceutical index the past five years. The company's market value has soared to more than $17 billion dollars, and its sales in the 2004 fiscal year were slightly less than $4.8 billion.
The plant is located in the high-technology center of Har Hotzvim, between the suburban Jerusalem community of Ramot and the Sanhedria neighborhood of the capital.
Four billion tablets a year for 100 different products will be produced, and production capacity will double after future investment, Teva reported.
The company operates 19 other plants around the world and employs 14,000 people, including 4,000 in several Israeli plants. Makov said Teva decided to build the facility in Jerusalem, despite the lack of economic advantages, after pressure from city officials and agreeing to the importance of strengthening the city's economic base.
"We hope that other companies will follow in our footsteps," Makov added.
Teva has been a darling among investors, doubling the advance of the Dow Jones Pharmaceutical index the past five years. The company's market value has soared to more than $17 billion dollars, and its sales in the 2004 fiscal year were slightly less than $4.8 billion.