Teva Gets Go-Ahead for $40 Billion Buy

YERUSHALAYIM -
The United States Federal Trade Commission building in Washington, DC.
The United States Federal Trade Commission building in Washington, DC.

Teva Pharmaceuticals has received approval from the U.S. Federal Trade Commission (FTC) to proceed with its acquisition of Actavis Generics, a deal worth an estimated $40 billion, Globes said on Thursday.

Last week, Teva raised over $20 billion in debt ahead of the purchase of the Allergan’s generics division, agreed to a year ago. The deal is slated for closing at the beginning of August.

Teva has some 338 product registrations pending FDA approval and will hold the leading position in first-to-file opportunities with approximately 115 pending ANDAs in the U.S. Additionally, Teva will have a commercial presence across 80 markets, including a top-three leadership position in over 40 markets.

The transaction is expected to achieve $1.4 billion in operational and tax synergies achievable by the end of 2019.