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Teva Pharmaceutical to sell or close Forest plant

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FOREST (WSLS 10) - On Wednesday, Teva Pharmaceutical notified its employees at its Forest, Va. site of its decision to sell or close the plant.

Denise Bradley, Teva's Senior VP of Corporate Reputation, said in a statement, "Our preference is to sell the plant, and to that end we are in the process of asking local, state and federal officials for their assistance in identifying a buyer for the site, -- preferably a buyer who will maintain jobs there."

Teva decided to divest or close the site as the result of a comprehensive review of itsglobal manufacturing network and is intended to enable us to reduce costs, increase competitiveness, and better align production with market demand, according to Bradley.

The company's Adeno antibiotics operations, which are also located at the Forest site, will continue to operate there.