Economic Impact Report
As a leading global pharmaceutical company and provider of generic medicines, Teva’s mission is to improve the lives of patients. We conducted an assessment to quantify Teva’s economic impact in 2022, both in terms of savings from generic medicines, as well as contributions to the labor market and gross domestic product (GDP).
Teva’s generic medicines contributed to $44 billion in savings across 21 countries, including:
- $37.9B in the US and Canada
- $5.9B in 14 countries in Teva’s Europe region
- $180M in 5 countries in Teva’s International Markets region
Teva’s direct and spillover economic activity:
- Supported 237,103 jobs (in full-time equivalents or FTEs)
- Contributed $20B to GDP
- Generated $8.2B in labor income, a measure of aggregate worker wages
Note: This analysis covers 24 countries with 32,791 FTEs (of Teva's 34,848 FTEs around the world). External data used to calculate generic medicines savings are not available for India, Ireland and Israel. In Israel, Teva holds the number one position in the generic medicines segment with 35% of market share, and 25% of all prescriptions are filled with a Teva product. These results are not comparable to Teva’s 2020 economic impact analysis due to different methodologies used. The scope of Teva’s economic impact analysis for 2021 and 2022 has increased, now including the economic impact of all activities (e.g., manufacturing, commercial and R&D), and the spillover data reflect domestic and foreign supply chain effects around the world. The global model used for spillover calculations includes 188 countries and 56 industries.
