Teva Pharmaceutical to cut 200 jobs in North Wales

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As the details of Warren Buffet's Berkshire Hathway emerged, shares of Teva Pharmaceutical Industries Ltd., with North American headquarters based in North Wales, skyrocketed.(MONTCO.today file photo)

Teva Pharmaceutical Industries will eliminate more than 200 jobs from its North Wales location, and 14,000 globally as part of a cost-saving restructuring plan.

The Israeli generic drug maker, which calls North Wales its U.S. headquarters, said last month it would eliminate  more that 25 percent of its total work force — over the next two years. It has about 56,000 employees worldwide including about 2,000 people in North Wales, West Chester and Frazer, writes Jeff Blutenthal in the Philadelphia Business Journal.

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The company has said it plans to consolidate United States offices from seven locations into single main campus, but the location has not yet been decided.

A Teva spokeswoman said last month that the company was in the process of closing its Horsham facility at 425 Privet Road. When asked if Teva could move its North American headquarters out of North Wales, the spokeswoman said, “Those decisions are still being made.”

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