Teva Pharmaceutical Industries plans to expand into biotech medicines to revive its prospects after 2018 of falling prices for generic products, coupled with heavy debts. The expansion news came as Teva Pharmaceutical Industries reported a 16% fall in annual revenue to $ 18.9bn in 2018 , accompanied by a 27% fall in earnings per share to $ 18.9bn . Forced to cut thousands of jobs and shut research facilities, the Israeli company is now turning to biotech drugs to revive its fortunes. It said revenue would fall further during annual , possibly to $ 2.92 . Biotech drugs are made with living cells and because they are more complex than tablet-form medicine they attract higher prices. Teva says it will continue selling generic drugs alongside the biotech products.
Teva Pharmaceutical Industries plans to expand into biotech medicines to revive its prospects after 2018 of falling prices for generic products, coupled with heavy debts. The expansion news came as Teva Pharmaceutical Industries reported a 16% fall in annual revenue to $ 18.9bn in 2018 , accompanied by a 27% fall in earnings per share to $ 18.9bn . It said revenue would fall further during annual , possibly to $ 2.92 . Biotech drugs are made with living cells and because they are more complex than tablet-form medicine they attract higher prices. Teva says it will continue selling generic drugs alongside the biotech products.