Teva Pharmaceutical Finance Co B.V. F-3ASR Automatic shelf registration (foreign)

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended September			Year Ended December 31,
	30, 2011			2010		2009		2008		2007		2006
		(U.S. dollars in millions, except ratios)
Earnings
Pre-tax income from continuing operations before adjustments for minority interests in consolidated subsidiaries or income or loss from equity investments		2,413.48			3,646.11		2,203.06		800.00		2,304.00		664.00
Fixed charges, as below		159.83			234.93		262.80		226.61		271.42		216.98
Interest capitalized, less amortization of capitalized interest		(3.53	)		—		—		—		—		—
Total		2,569.78			3,881.07		2,465.86		1,026.61		2,575.42		880.98
Fixed Charges
Interest costs (expensed and capitalized) and amortization of issuance costs relating to long term debentures		134.54			203.21		232.48		205.87		254.51		204.36
Rentals – one third of rental expenses		25.30			31.75		30.32		20.74		16.91		12.62
Total		159.83			234.96		262.80		226.61		271.42		216.98
Ratio of Earnings to Fixed Charges		16.1			16.5		9.4		4.5		9.5		4.1