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Teva Abandons Search to Make Covid-19 Vaccine for Partners

April 28, 2021, 4:11 PM

Teva Pharmaceutical Industries Ltd. has stopped searching for opportunities to produce Covid-19 vaccines for a developer partner, according to the generic drug giant’s chief executive officer, who said the vaccine makers have already secured needed manufacturing capacity.

Chief Executive Officer Kare Schultz said in February that Teva was in discussions with top-tier shot makers about helping with production and distribution. Those talks ended after the companies clinched other manufacturing agreements and determined they had sufficient capacity to meet targets, he said Wednesday.

“We really wanted to help if we could,” Schultz told Bloomberg in an interview. “The companies with vaccines...

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