Teva Pharmaceutical Industries said Monday it has agreed to buy Allergan’s generic drug unit for about $ 40.5 billion.
Based in Jerusalem, Teva is one of the world’s largest generic drug manufacturers, and the stock-and-cash deal will help boost its pipeline, supply chain and global revenue sources, the company said.
Dublin-based Allergan will receive $ 33.75 billion in cash and shares of Teva valued Monday at $ 6.75 billion. Approved by the boards of both companies, the deal is expected to close in the first quarter of 2016.
“Our respective portfolios of generic medicines and applications are highly complementary,” Teva CEO Erez Vigodman said in a statement.
Teva said it expects a “double-digit” increase in its “non-GAAP earnings per share” in 2016 due to the acquisition.
Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Read or Share this story: http://usat.ly/1S6IKXr
No comments:
Post a Comment