August 3, 2016, 8:21 am – CEO of Israeli drugs giant says deal, which puts it among top 10 global pharmaceutical firms, won’t push up medicine prices.
PETAH TIKVA (AFP) — Teva Pharmaceutical Tuesday completed its $40 billion acquisition of the generics arm of rival Allergan, a move the Israeli firm hailed as confirmation of its intention to become one of the world’s largest drugmakers.
“Teva Pharmaceutical Industries Ltd. and Allergan plc today announced that Teva has completed its acquisition of Allergan’s generics business (Actavis Generics),” the Israeli company said in a statement.
The $40-billion deal, the largest in Israeli history, was agreed last year but finally confirmed Tuesday.
The Israeli multinational was already the world’s largest manufacturer of generic drugs — non-branded, cheaper alternatives to branded drugs that have lost their patent.
Allergan Generics was the third largest in the same market by sales, and the acquisition gives Teva a large market lead and catapults it into the top 10 pharmaceutical firms globally, according to the company’s figures…….Read More >>>