Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) chairman Eli Hurvitz sold 300,100 shares during 2009, according to its 20-F Form annual report to the US Securities and Exchange Commission (SEC). Based on Teva's average share price of $48.31 on Nasdaq in 2009, he made $14.5 million on the sales. Hurvitz owned 1.1% of Teva at the end of the year, worth $602 million.
Teva paid its 12 senior executives and its 17 directors $16.7 million altogether in 2009. This figure does not include the exercise of options for a total of $14.2 million by these executives and directors during the year.
Teva launched 19 generic drugs during 2009. The equivalent brand drugs have annual sales of $13.6 billion.
Employees exercised 6.8 million options worth $169 million in 2009, down from $192 million in 2008 and $212 million in 2007. Employees held options exercisable for 30.1 million shares as of the end of 2009. Based on an average strike price of $38.66 per share, the options are worth $638 million.
12.7 million options can be exercised immediately. Based on an average strike price of $24.70, these options are worth $396 million.
Teva had 35,087 employees worldwide at the end of 2009, 3,218 employees, or 8%, fewer than at the end of 2008. 18% of the company's workforce - 6,301 employees - were in Israel at the end of 2009, up from 6,160 a year earlier. 39% of Teva's workforce is in Europe, 22% in North America, and 16% in South America. 54% of employees work in production, 38% in sales and marketing, 8% in R&D, and 10% in management and administration.
Teva distributed $528 million in dividends in 2009, up from $388 million in 2008.
Teva's share fell 0.5% at the opening on Nasdaq today to $59.54. The share rose 2.2% on the TASE to NIS 225.50
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010
Published by Globes [online], Israel business news - www.globes-online.com - on February 23, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010