TEVA pharmaceuticals to buy ALLERGAN Pharma
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Post its earlier failed attempt to acquire Mylan, Teva Pharmaceuticals is now in talks to buy Allergan at a cost of $45 million, to gather a bigger footprint in the generics drug market
Jerusalem based Teva Pharmaceuticals is likely to acquire the generic drugs unit of Allergan, to strengthen its position in the generics drugs market. The deal which is valued at a cost of $45 million, gives Teva the advantage of significant cost synergies and tax savings. Currently valued with a market capitalization of $60 billion, Teva will buy the big generics business of the Dublin based Allergan, which currently constitutes a third of the company’s total revenue.
According to some recent reports in the media, a formal announcement can be made as early as next week. At the moment, the discussion is under negotiation, and highly confidential, said a resource not wishing to be identified. Company representatives did not respond to requests for comment.
Allergan now has a market capitalization of $121 billion. In an earlier development, in 2014, Actavis Plc merged with Allergan and adopt its name.
Jerusalem based Teva Pharmaceuticals is likely to acquire the generic drugs unit of Allergan, to strengthen its position in the generics drugs market. The deal which is valued at a cost of $45 million, gives Teva the advantage of significant cost synergies and tax savings. Currently valued with a market capitalization of $60 billion, Teva will buy the big generics business of the Dublin based Allergan, which currently constitutes a third of the company’s total revenue.
According to some recent reports in the media, a formal announcement can be made as early as next week. At the moment, the discussion is under negotiation, and highly confidential, said a resource not wishing to be identified. Company representatives did not respond to requests for comment.
Allergan now has a market capitalization of $121 billion. In an earlier development, in 2014, Actavis Plc merged with Allergan and adopt its name.
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