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Teva

This article was originally published in The Tan Sheet

Executive Summary

Israel-based firm buys Copley for $220 mil. in cash or $11 per share. Hoechst had owned 52% of Copley. The acquisition will add 52 OTC and Rx products to Teva's U.S. business, including generic versions of miconazole vaginal cream, men's and women's 2% minoxidil topical solutions, bromatapp extended-release tablets, clemastine syrup and doxylamine succinate tablets. Both firms have highlighted the potential for Rx-to-OTC switches following the acquisition
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