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India/US: Generic sale helps Teva-Allergan deal

By  |  July 27, 2016

India’s second-largest pharmaceutical company, Dr Reddy’s Laboratories Ltd, said it had agreed to buy eight generic drugs from Teva Pharmaceutical Industries and Allergan Plc for $350 million in cash in an attempt to bolster its U.S. business.

The drugs Dr Reddy’s has agreed to buy are being divested by Israel-based Teva, in order to win U.S. antitrust clearance for its $40.5 billion acquisition of Allergan’s generic drugs portfolio. This sale to Dr Reddy’s puts Teva one step closer to closing the Allergan deal.

The deal consists of some generic drugs awaiting U.S. approval, as well as some that are already on the market. The branded versions of drugs under the deal had U.S. sales of about $3.5 billion in the year leading to April 2016, the company reported citing healthcare research firm IMS Health.

Full Content: NBC Daily

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