The largest increase in exports was to Eastern Europe.
Israel's pharmaceutical exports totaled $2.22 billion in the first half of 2008, 43% more than in the first half of 2007, Manufacturers Association of Israel Chemical and Pharmaceutical Society chairman Chaim Hurvitz, who also serves as VP Israeli pharmaceutical sales at Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA).
The largest increase in exports was to Eastern Europe. Pharmaceutical exports to Russia rose 250% to $4.4 million in the first half, exports to the Czech Republic rose 101% to $23.3 million, and exports to Hungary rose 6% to 15.2 million. Pharmaceutical exports to the EU as a whole rose 32% to over $337 million in the first half. The US was still the largest export market for Israel's pharmaceutical industry, with exports rising 43% to $1.65 billion.
Hurvitz called on the government to instruct Israel's health funds to give preference to Israeli drugs in tenders, especially when the Israeli drugs are identical in function, quality, and price to imported drugs.
Published by Globes [online], Israel business news - www.globes-online.com - on August 18, 2008
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