Hungary's Richter, Israel's Teva Team Up on Generic Drugs

Hungarian pharmaceutical company Richter Gedeon Rt. and its Israeli rival Teva Pharmaceuticals (TEVA) Tuesday joined forces to launch six new generic drugs. At a press briefing, Richter Chief Executive Erik Bogsch and Teva's chief in Hungary Andras Rozsa, said they had lain aside any rivalry between their companies in order to promote the generic drugs segment in Hungary. Both companies unveiled new drugs against brittle-bone disease, or osteoporosis. Richter also launched new contraceptives and a prostate cancer drug, while Teva announced the launch of a new cholesterol-reduction product.

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