Teva Gets Go-Ahead for $40 Billion Buy
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.
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