* To buy shares in Tel Aviv and on Nasdaq over a year
* Says remains committed to long-term strategic plan
* Tel Aviv-traded shares fall more than 1 percent
(Adds details, share reaction, analyst comments)
By Tova Cohen
TEL AVIV, Dec 1 (Reuters) - Teva Pharmaceutical Industries, the world's largest generic drugmaker, on Wednesday unveiled a $1 billion share buy-back in an attempt to bolster its share price performance.
The company, which will buy the shares with its own cash, said the buy-back would not change its commitment to its long-term plans, including acquisitions and expansion of its generic and branded research and development programmes.
"There's no doubt there's a problem with the share price," said Yoav Burgan, head of research at brokerage Poalim Sahar.
"This is one of the tools a board has to try and boost the share price," he said referring to the buy-back plan.
Teva's shares fell 1.4 percent to 184.9 shekels by 0934 GMT.
Burgan said this was because Teva's shares on Nasdaq had fallen on Tuesday by 1.7 percent so the Tel Aviv price move was just closing the gap.
"This is a welcome step but we doubt the buyback programme is an effective remedy for the current coma in which Teva's shares are in," Burgan said.
As the 12th largest company on Nasdaq, there aren't many catalysts to boost Teva's shares significantly yet there are many potential catalysts that could weigh on them, Burgan said.
Among these potential negatives are the threat of a generic version of Teva's leading branded multiple sclerosis treatment Copaxone, possible competition from oral MS drugs and the fact that other big drug companies such as Pfizer are seeking to become players in the generic market.
There are also concerns Teva's activities in Europe could suffer from cuts to health budgets in the wake of the financial crisis, Burgan added.
He said that Teva's shares, trading at 11 times 2010 estimated earnings and 9.5 times 2011 estimated earnings, were undoubtedly cheap.
"The question is, is this enough? Unfortunately, we're doubtful," Burgan said, adding that generic competitors such as Watson were viewed as no less attractive investments.
Teva said it remained committed to revenue and net income targets presented in January of $31 billion and $6.8 billion, excluding one-off items, by 2015, respectively.
"Given the company's strong cash generation and cash position, the board believes that the repurchase programme can be carried out without limiting the company's ability to execute this plan fully or to meet its other capital requirements."
Teva has a market value of $47.8 billion.
($1 = 3.67 shekels)
(Editing by Jane Merriman)