Teva Pharma to cut 400 jobs at Czech unit

PRAGUE, Sept 21 (Reuters) - Israeli drugmaker Teva Pharmaceutical (TEVA.TA) will close one of its Czech factories by the end of the year, cutting around 400 jobs.

Teva, which employs 1,700 in the country, said on Monday part of the lost jobs would be mitigated by a 1 billion crown ($58 million) investment next year that will boost production at its main plant and create 300 new positions.

Unemployment in the central European country of 10.5 million rose to a more than three-year high of 8.5 percent in August.

Teva Pharmaceutical, the world's top generic drugmaker, said earlier this month it would relocate up to 315 jobs from Ireland to cheaper sites in eastern Europe or Israel. [ID:nL4547021] (Reporting by Jason Hovet; Editing by Dan Lalor) ($1 = 17.22 Czech crowns)