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Teva Pharmaceuticals USA Issues Statement on the ``Preserve Access to Affordable Generics Act''

Posted on: Friday, 16 February 2007, 15:01 CST

Teva Pharmaceuticals USA issues the following statement in response to the "Preserve Access to Affordable Generics Act":

"Teva is supportive of the Senate's efforts to stop anti-competitive drug patent settlements. We also agree with their acknowledgement that severely restricting settlements would not be in the best interest of consumers. An essential component of many pro-consumer settlements is the provision for an early entry date of a generic product.

Teva's goal is to bring high-quality and low-cost healthcare to all Americans as quickly as possible. To this end, we believe that each of the settlements we've entered into have been pro-consumer, and are proud of the resulting $50 billion plus in savings and over 60 years of early generic entry delivered to the public. In summary, Teva is in favor of legislation that encourages pro-consumer settlements, but prohibits anti-competitive settlements."

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 human pharmaceuticals and active pharmaceutical ingredients, as well as animal health pharmaceutical products. Over 80% of Teva's sales are in North America and Europe.

Source: Business Wire

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