Israel’s Teva pharmaceuticals will acquire Allergan for $40.5 billion. Photo: Screenshot.

Allergan President and CEO Brent Saunders said Monday the sale of its generics business would allow the company to double down on its higher margin, higher growth branded drugs business.

Saunders spoke on CNBC’s Squawk Box after Israel’s Teva Pharmaceutical announced plans to purchase Dublin-based Allergan’s generic pharmaceuticals business for $40.5 billion.

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