Teva Pharmaceutical Industries plans to expand into biotech medicines to revive its business after several years of falling prices for generic products , coupled with heavy debts . Forced to cut thousands of jobs and shut research facilities, the Israeli company is now turning to biotech drugs to revive its fortunes. The expansion news came as Teva reported a 16 % fall in annual revenue to $ 18.9bn in 2018 , accompanied by a 27 % fall in earnings per share to $ 30 . It said revenue would fall further during 2019 , possibly to $ 17bn . 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 business after several years of falling prices for generic products , coupled with heavy debts . The expansion news came as Teva reported a 16 % fall in annual revenue to $ 18.9bn in 2018 , accompanied by a 27 % fall in earnings per share to $ 30 . It said revenue would fall further during 2019 , possibly to $ 17bn . 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 .