Teva freezes plans to build new Ra'anana HQ

Globes reported Saturday that Teva is was suspending the construction of its new headquarters in Ra'anana.

• According to acting CEO Yitzhak Peterburg,, the drugmaker was considering how to continue the project at lower cost.

• A letter sent to Teva employees noted "we are conducting a deep evaluation of the company for the purpose of finding every opportunity to generate value and streamline."

• "As part of this process, we have decided to momentarily suspend the plan for building a Teva campus in Ra'anana in order to consider each of its elements, its character, and its budget framework," the letter added.

• The letter concluded "we will consider other solutions (including continued construction of the campus in a different format) in order to provide an optimal solution to the needs of headquarters and R&D employees, while saving on costs."

• The Ra'anana campus was designed to house Teva's main offices, laboratories and production facilities.