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Israeli unions warn Teva Pharm over plan to close Ashdod plant

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Israeli unions warn Teva Pharm over plan to close Ashdod plant

Israel’s main labor federation intends to take labor or legal action against Teva Pharmaceutical Industries if the drugmaker does not suspend a decision to close a plant in the Israeli port city of Ashdod, it said on Sunday. Debt-laden Teva , the world’s largest generic drugmaker and Israel’s biggest company, said last week that it would close the unprofitable plant in March 2019 after failing to find a buyer for the facility. In a letter to Teva’s management, the Histadrut federation said the company’s decision was contrary to a prior declaration that it would retain most of its activities in Israel.

Source:: https://finance.yahoo.com/news/israeli-unions-warn-teva-pharm-over-plan-close-114711412–finance.html

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