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US: Teva finalizing asset sales to clear Its Allergan deal

 |  May 9, 2016

Teva Pharmaceuticals is finalizing as much as $2 billion in asset sale agreements to win US antitrust clearance for its $40.5 billion acquisition of Allergan’s generic drug portfolio, according to a source familiar with the matter.

The divestments would boost efforts by Teva to close the deal with Allergan, which is domiciled in Ireland. Teva said in March that a regulatory review of the deal by the US Federal Trade Commission was taking longer than anticipated, and it expected the transaction to be completed by June.

Teva has found buyers for nearly all of the assets it expects to divest, which could be worth as much as $2 billion in total, the source said last Thursday. They include around 50 drugs already on the market and 25 in development that treat illnesses ranging from cancer to respiratory disease and central nervous system disorders, the source said.

Full Content: HAARETZ

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