JERUSALEM–(Business Wire)–
Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA) announced today U.S. Food and
Drug Administration (FDA) approval of Venlafaxine HCl ER Capsules, the Company`s
generic version of Wyeth`s antidepressant Effexor XR. Shipment is expected to
commence on July 1, 2010, as per the terms of the 2006 agreement with Wyeth.

As the first company to file an Abbreviated New Drug Application (ANDA)
containing a paragraph IV certification for this product, Teva has been awarded
a 180-day period of marketing exclusivity.

The brand product had annual sales of approximately $2.75 billion in the United
States, based on IMS sales data.

About Teva

Teva Pharmaceutical Industries Ltd., headquartered in Israel, is among the top
15 pharmaceutical companies in the world and is the leading generic
pharmaceutical company. The company develops, manufactures and markets generic
and innovative pharmaceuticals and active pharmaceutical ingredients. Over 80
percent of Teva’s sales are in North America and Western Europe.

Teva’s Safe Harbor Statement under the U. S. Private Securities Litigation
Reform Act of 1995:

This release contains forward-looking statements, which express the current
beliefs and expectations of management. Such statements are based on
management’s current beliefs and expectations and involve a number of known and
unknown risks and uncertainties that could cause our future results, performance
or achievements to differ significantly from the results, performance or
achievements expressed or implied by such forward-looking statements. Important
factors that could cause or contribute to such differences include risks
relating to: our ability to successfully develop and commercialize additional
pharmaceutical products, the introduction of competing generic equivalents, the
extent to which we may obtain U.S. market exclusivity for certain of our new
generic products and regulatory changes that may prevent us from utilizing
exclusivity periods, potential liability for sales of generic products prior to
a final resolution of outstanding patent litigation, including that relating to
the generic versions of Neurontin, Lotrel and Protonix, the extent to which any
manufacturing or quality control problems damage our reputation for high quality
production, the effects of competition on sales of our innovative products,
especially Copaxone (including potential generic and oral competition for
Copaxone), the impact of continuing consolidation of our distributors and
customers, our ability to identify, consummate and successfully integrate
acquisitions, interruptions in our supply chain or problems with our information
technology systems that adversely affect our complex manufacturing processes,
intense competition in our specialty pharmaceutical businesses, any failures to
comply with the complex Medicare and Medicaid reporting and payment obligations,
our exposure to currency fluctuations and restrictions as well as credit risks,
the effects of reforms in healthcare regulation, adverse effects of political or
economical instability, major hostilities or acts of terrorism on our
significant worldwide operations, increased government scrutiny in both the U.S.
and Europe of our agreements with brand companies, dependence on the
effectiveness of our patents and other protections for innovative products, our
ability to achieve expected results through our innovative R&D efforts, the
difficulty of predicting U.S. Food and Drug Administration, European Medicines
Agency and other regulatory authority approvals, uncertainties surrounding the
legislative and regulatory pathway for the registration and approval of
biotechnology-based products, potentially significant impairments of intangible
assets and goodwill, potential increases in tax liabilities resulting from
challenges to our intercompany arrangements, our potential exposure to product
liability claims to the extent not covered by insurance, the termination or
expiration of governmental programs or tax benefits, current economic
conditions, any failure to retain key personnel or to attract additional
executive and managerial talent, environmental risks and other factors that are
discussed in this report and in our other filings with the U.S. Securities and
Exchange Commission (“SEC”).

Teva Pharmaceutical Industries Ltd.
Investor Relations:
Elana Holzman, 972 (3) 926-7554
or
Teva North America
Kevin Mannix, 215-591-8912
or
Media:
Yossi Koren, 972 (3) 926-7590
or
Teva North America
Denise Bradley, 215-591-8974

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