Teva launches Teva Optical in Israel

The Israeli optical market is worth $1.4 billion annually.

Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) unit Teva Medical Ltd. has launched a new optical brand in Israel, Teva Optical. Until now, Teva Medical marketed a range of optical products, but launched its own label as part of its strategy to gain substantial market share.

Teva Medical managing director Yossi Ofek said, "The public sees Teva as a super-brand dedicated to quality, availability, and reliability, values that are naturally related to the optical industry. Teva has set itself a target of leading this sector and offering products in the field that provide a full and responsible solution for customers. Teva Medical's entry to the market will involve activities with both hospitals and optical stores."

Teva Israel's optical unit operating under the Teva Medical brand name is the largest provider of medical equipment and drugs in Israel.

Israel's optical market is worth NIS 1.4 billion annually.

Published by Globes, Israel business news - www.globes-online.com - on July 19, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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