Teva Pharmaceutical Industries and Allergan today announced that Teva has completed its acquisition of Allergan’s generics business (“Actavis Generics”).
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As part of the deal completed on Tuesday, Allergan received $33.4 billion in cash and 100.3 million shares of Teva stock.
Teva is buying Allergan’sAnda Inc., the fourth-largest distributor of generic pharmaceuticals in the U.S.
The acquisition is meant to improve research and development capabilities, product portfolios and geographical footprints, Teva said in a statement.
“We are focusing our efforts on integrating the Actavis Generics business into Teva as smoothly as possible, with minimum disruption to our customers and patients”, a spokesperson told C+D.
When asked by C+D which of Actavis’s more than 350 United Kingdom generics would transfer over to its new owner, Teva said a full list will be published “in due course”.
Divested products include anesthetics, antibiotics, weight loss drugs, oral contraceptives and treatments for a wide variety of diseases and conditions, including ADHD, allergies, arthritis, cancers, diabetes, high blood pressure, high cholesterol, mental illnesses, opioid dependence, pain, Parkinson’s disease, and respiratory, skin and sleep disorders.
The sale is subject to anti-trust clearance.
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The deal means Teva will have 338 products awaiting FDA approval, including 115 products with a first-submit option – a substantial commercial advantage in the global pharmaceutical industry.
