Eli Hurvitz and the creation of Teva Pharmaceuticals: An Israeli Biography by Yossi Goldstein

Author:Yossi Goldstein [Goldstein, Yossi]
Language: eng
Format: epub
Tags: biography
Publisher: ERETZ Press, Magazine ERETZ Hatzvi
Published: 2017-12-30T23:00:00+00:00

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Eli’s tenure started off on a positive note. As president of the Manufacturers Association, and as head of the Coordinating Bureau of Economic Organizations, Eli tried to facilitate dialogue with Yoram Aridor. Eli continued working full time as the CEO of Teva, but regarded his activities as president of the Manufacturers Association as a “national mission,” according to his own patriotic designation. During the three days each week that he worked in the offices of the Manufacturers Association, Eli sought to implement a moderate policy based on compromise and negotiation to address the major economic problems then plaguing the Israeli economy. His moderate approach was reflected in his responses to questions from the media on the price index and inflation. His predecessor, Shavit had leveled sharp criticism at the government on the fifteenth of every month, each time it announced the monthly consumer price index. As Shavit saw it, the raging inflation reflected by this index constituted just cause for attacking the government. Eli offered more picturesque language and concise responses, such as his assertion that “the index reflects only what was done to it.”

This peaceful state of affairs did not last long. From mid-1982 onward, Eli embarked upon a series of battles on two fronts: against the Finance Ministry, which sought to raise taxes and manipulate the exchange rate; and against the Histadrut, which continued to demand regular wage increases. From Eli’s perspective, both were, “a disaster for manufacturers and the State of Israel.” Nonetheless, he still clearly understood that compromise was the best means of extricating the Israeli economy from the labyrinth in which it found itself.

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