Sunday, December 17th | 29 Kislev 5778


Be in the know!

Get our exclusive daily news briefing.

August 3, 2016 10:01 am

Teva Inks Biggest Deal in Israeli Pharmaceutical Industry’s History

avatar by

Email a copy of "Teva Inks Biggest Deal in Israeli Pharmaceutical Industry’s History" to a friend
A Teva factory in Kfar Sava, Israel. The company finalized an acquisition for $40.5 billion. Photo: Wikimedia Commons.

A Teva factory in Kfar Saba, Israel. The company finalized an acquisition for $40.5 billion. Photo: Wikimedia Commons. – Israeli pharmaceutical giant Teva announced Tuesday that it has finalized its acquisition of Dublin-based Allergan’s Actavis Global Generics for $40.5 billion. This is the biggest acquisition deal in the Israeli pharmaceutical industry’s history.

As part of the deal, Teva Pharmaceutical Industries acquired Actavis Global Generics’ with its US and international generic commercial units, third-party supplier Medis, global generic manufacturing operations, and the global generic research and development unit as well as Allergan’s international over-the-counter commercial unit and certain established international brands, an Allergan press release said.

Allergan is a global pharmaceutical company focused on developing, manufacturing and commercializing branded pharmaceuticals, devices and biologic products for patients around the world.

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.

Related coverage

December 15, 2017 2:28 pm

NJ Senator Cory Booker Slams ‘Repugnant’ Call for Killing of Jews by Imam of Jersey City Mosque

New Jersey Senator Cory Booker (D) has issued a scorching rebuke to the Jersey City imam who delivered two antisemitic sermons...

Teva recently released a study showing the generic drugs it produces generated savings of about $215 billion to the US healthcare system over the last decade.

“The acquisition of Actavis Global Generics will help us build a new Teva, one with a more solid foundation, upgraded financial profile and more diverse revenue and profit sources,” Teva President and CEO Erez Vigodman said.

Share this Story: Share On Facebook Share On Twitter Email This Article

Let your voice be heard!

Join the Algemeiner