Profits slump at Waterford pharmaceutical firm Teva

Numbers employed at the company in 2021 increased from 640 to 656

The main factor behind the sharp drop in pre-tax profits at the Israeli-owned firm was income from subsidiaries declining from $112.5m to $1.65m.

Pre-tax profits at the main Irish arm of pharmaceutical firm, Teva slumped by 67 per cent to $121.34m (€113.72m) in 2021.

Norton (Waterford) Ltd is one of the largest employers in the southeast and accounts show that the company recorded a drop in pre-tax profits after revenues decreased by $102.4m or 11 per cent from $924.6m to $822.18m.