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Teva Canada is one of Canada's largest generic pharmaceutical companies. The company was founded as Novopharm by Leslie Dan in 1965. After its acquisition by pharmaceutical giant Teva Pharmaceutical Industries in 2000, it was renamed Teva Novopharm. The Novopharm name was dropped in 2010, when it became Teva Canada. [1]
Cefalexin, also spelled cephalexin, is an antibiotic that can treat a number of bacterial infections. [4] It kills gram-positive and some gram-negative bacteria by disrupting the growth of the bacterial cell wall. [4] Cefalexin is a β-lactam antibiotic within the class of first-generation cephalosporins. [4]
Founded in 1974 by Barry Sherman, the company is the largest producer of generic drugs in Canada, with annual sales exceeding CA$2.5 billion. [5] By 2023, Apotex employed close to 8,000 people as Canada's largest drug manufacturer, with over 300 products selling in over 115 countries.
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McKesson Canada purchased Rexall in December 2016 for $3 billion from the Katz Group of Companies. [4] At the time, it was estimated that Rexall had an average annual revenue of approximately $2.0 to $2.5 billion. [5] Around this period, one of the major rival pharmacies in Canada was Shoppers Drug Mart. [6]
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On May 11, 2019, Teva Pharmaceuticals USA was one of 19 drug companies sued for price fixing in the United States by 44 states for inflating its prices, sometimes up to 1000%, in an illegal agreement among it and its competitors. [7] In June 2021, Teva agreed to pay $925M to settle allegations it had engaged in price fixing in Mississippi. [108]
Cephalosporins are a broad class of bactericidal antibiotics that include the β-lactam ring and share a structural similarity and mechanism of action with other β-lactam antibiotics (e.g. penicillins, carbapenems and monobactams). [1]