JERUSALEM Israeli generic drugmaker Teva Pharmaceutical Industries Ltd. has been granted permission to distribute more of its products to Germany's largest health insurance company next year, the company said in a statement.
According to Teva’s Web site, Allgemeinen Ortskrankenkassen, better known as AOK, is a health fund that represents about 36% of publicly insured people in Germany. The country has been considered Europe's largest generic market with about 8 billion euros ($11.18 billion) in sales, based on IMS sales data.
Earlier this year, the company was awarded the right to supply just six products to AOK.
Teva has made several progressions in the generic drug business. This past year, the company has received an array of approvals by the U.S. Food and Drug Administration to sell generic versions of well-known medicines.