PIXABAY, CLKERFREEVECTORIMAGESGeneric drug giant Teva Pharmaceutical will acquire Allergan’s generics division in a cash-and-stock deal valued at $40.5 billion, Teva announced today (July 27). Separately Allergan yesterday (July 26) announced that it will acquire Naurex, a firm developing treatments for depression among other things, in a $560 million all-cash deal.
The acquisition of Allergan Generics “delivers on Teva’s strategic objectives in both generics and specialty,” Teva President and CEO Erez Vigodman said in his firm’s statement. “Our respective portfolios of generic medicines and applications are highly complementary, providing Teva with high quality growth and earnings visibility and the scale and resources to expand upon our specialty capabilities.”
Allergan President and CEO Brent Saunders said that while his company was not actively seeking offers to divest its generics unit, Teva made an offer the company couldn’t refuse. (In April, Teva made a failed $40 billion bid for generic drugmaker Mylan.) “Over the years, our global team of highly capable and dedicated employees has dramatically expanded our generics portfolio, capabilities, and footprint, with over 220 ANDAs [Abbreviated ...
