AND IN HEALTH
Israel’s commerce isn’t contained only within the southern borders of the United States. The Israeli pharmaceutical giant Teva (translated as "nature" from the Hebrew) purchased American drug maker Sicor for $3.4 billion in 2004, resulting in a rank as the second largest generic pharmaceutical on the NYSE. According to Forbes, Israel has more companies listed on NASDAQ than any other foreign country except Canada, and six of those have come into being since the beginning of 2004. Additionally, many major U.S. companies such as Intel, Microsoft, IBM, and HP have substantial R&D operations in Israel.
In the high-tech arena, Israel has a track record of phenomenal success, particularly considering its population of 6.5 million - not much larger than the Atlanta metropolitan area. Israel’s economy is supported by the world’s most highly educated workforce, with more scientists and engineers per capita than any other country.
Its software industry has made a mark on the global market, with Israel ranking only behind California’s Silicon Valley and Boston’s Route 128 as a region with the highest concentration of high-tech start-ups. Engineers at Mirabilis, founded by four young Israelis, developed ICQ, the technology behind AOL Instant Messenger. The first cell phone was developed at Motorola’s lab in Haifa. Microsoft’s Israel labs designed most of the Windows NT operating system. Check Point, an Israeli company, pioneered
Internet and network security technology such as the Firewall and is considered the world leader in the field.
"The core engine driving Israel’s economic development is hightech," said Ezra."Technology is our future."
Many of the technologies coming from Israel have medical orientations, and the country is a major research and development center for two of the world’s largest medical imaging companies. One of the most impressive recent developments is Given Imaging’s design for the first ingestible video camera – so tiny that it fits in a pill. When swallowed, the camera enables doctors to view the small intestine from the inside to diagnose cancer and digestive disorders. Given’s North American headquarters is in Norcross, Georgia. Other Israeli high-tech medical innovations include the first fully computerized, radiation-free, diagnostic instrumentation for breast cancer and a bone
glue that stimulates bone and cartilage repair. In 2004, Israel exported $1.5 billion in drugs and $1 billion of medical devices.
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