Israel’s natural response – Teva

Teva in Hebrew means nature, like wild rolling fields. It is also the name of one of Israel’s largest companies, quoted on NASDAQ.

Teva has grown in 3 decades from an insignificant local manufacturer to become the world’s largest generic drug producer, with factories on 3 continents. Only this week, it completed the purchase of Ratiopharm, Germany, for nearly US$5.0 billion, beating Pfizer to the finishing line.

Barden Capital Management, Texas, is typical of many such firms. It has consistently held a long position in Teva. Assessing the management, current and future market positioning, price ratios etc, they believe that Teva remains a good hold for some years to come.

Teva represents much of Israel’s commerce in that it is a company that has grown despite the existential problems, which the country continues to face. This week, the Tel Aviv Stock Exchange climbed to within 2% of its record high before the credit crunch arrived. Few other bourses can claim that achievement.

You will be unlikely to read about these successes in your average newspaper. Most reports from Israel  this week focus on the diplomatic spat with America; Israel’s poor management of internal decision-making by a minor committee of civil servants in the housing ministry and Washington’s childish response.

In fact, Washington and its European friends were merely content in blasting Prime Minister Netanyahu. They contrived to ignore how Palestinian President Mahmoud Abbas led a ceremony Ramallah to rename the main public square in honor of Dalal Mughrabi, the woman who in 1978 helped carry out the deadliest single terrorist attack in Israel’s history. All this, the day after the American Vice President had met with Abbas.

And neither did the Western allies condemn calls from Hamas and from the Palestinian Authority to react with violence against a religious Jewish ceremony in Jerusalem’s Old City.

Teva represents Israel’s natural response to these hypocrisies. It shows how the country is prepared to just get on with it. All Israelis want to do is to live their lives in peace with the world, creating a better global community.

Explore posts in the same categories: Business, Israel, Jerusalem, Palestinians

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