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US: Teva to divest $1B in assets to clear antitrust hurdles to Allergan deal

 |  December 3, 2015

Back in July, Teva agreed to pick up Allergan’s generics business for $40.5 billion. To get that deal past regulators, though, it’s going to have to divest some products–and word is it could be a lot of them.

The Israeli generics giant is in the process of jettisoning about $1 billion worth of assets to avoid antitrust hurdles for the transaction, which it’s hoping to close by the first quarter of 2016, Reuters reports. According to the news service’s sources, those assets span the United States, Europe and the Middle East, and they’ll be sold off in a series of processes that should wrap up by early next year.

The US divestitures, in particular, should be complete by January, the company figures, and it’s already fielded offers from multiple copycat drugmakers, Reuters says.

Full content: Reuters

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