*

Says supplies generic drugs in US cost effectively

*

Says produces high volumes in the US

*

Bullish on future earnings on basis of innovative

portfolio

(Adds quotes from news conference, context, paragraph 7

onwards)

By Steven Scheer

TEL AVIV, Feb 17 (Reuters) - U.S. President Donald

Trump's administration needs to speed up generic drug approvals

and exempt some drugs from funding freezes, the CEO of Israel's

Teva Pharmaceutical Industries said on

Monday.

"In the FDA (Food and Drug Administration), there is no

speed. I would like them to do things on a regular time because

the more generics we bring, the more savings we bring to the

United States healthcare system, so just approve them," Richard

Francis told Reuters on the sidelines of a news conference.

"Many of these products are approved in Europe."

He also said some drugs, such as Huntington's treatment

Austedo, should be exempt from funding restrictions.

As part of his flurry of executive orders following his

return to power in January, Trump ordered government agencies to

pause funds under his predecessor's signature climate and

infrastructure law, the Inflation Reduction Act (IRA).

"I don't think having Teva part of that and having Austedo,

a rare disease (treatment), part of that is necessarily the

intent of the IRA," he said.

Speaking at the news conference on Monday, Francis also

downplayed the impact on Teva of protectionist tariffs the Trump

administration has been rolling out.

He said half of the drugs Teva supplies to the United States

are produced in the U.S., and are supplied very

cost-effectively. The rest are made in Israel and Europe.

"The fact that we manufacture so much in the United States

and do so much R&D in the United States, we are not the

challenge when it comes to improving the balance of trade," he

said.

Turning to Trump's most obvious trade target, Francis said

Teva did not receive many supplies from China and he was not

concerned about shortages. He did not give specific figures.

Teva last month reported a slightly larger than expected

rise in fourth-quarter profit,

Francis said its trio of branded drugs to treat migraines,

Huntington's disease and schizophrenia, respectively Ajovy,

Austedo and Uzedy, along with a healthy pipeline of drugs and

biosimilars, would drive further growth.