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In Cephalon, Teva Will Get An Expanded Innovative R&D And Branded Portfolio

This article was originally published in The Pink Sheet Daily

Executive Summary

The giant Israeli generics firm extols Cephalon's R&D but the deal's real value may be more nuanced: a combination of cost synergies, late-stage pipeline assets, and expansion of Teva's mix of branded products in anticipation of upcoming challenges in both the branded and generics businesses.

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