In First Foray Into Mainland Asia, Teva Forms a Joint Venture in South Korea

The agreement ends months of speculation that Teva was interested in making an acquisition in South Korea, where the Israeli company has said healthcare spending is expected to reach as much as 9% of gross domestic product by 2015.

Teva Pharmaceutical Industries said Monday it was forging a joint venture with South Korea's Handok Pharmaceuticals, aiming to gain a foothold in the $14...