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Teva buys Barr

This article was originally published in The Tan Sheet

Executive Summary

Jerusalem-based generic drug manufacturer Teva Pharmaceuticals Industries signs an agreement to purchase Barr Laboratories, manufacturer of OTC emergency contraceptive Plan B, for $7.46 billion plus the assumption of net debt of $1.5 billion, the firms say July 18. The companies expect the deal to close in late 2008. Teva looks to the acquisition to enhance its position in the U.S. and European markets. "The combined company will have an unmatched global platform, operate directly in more than 60 countries and employ approximately 37,000 people worldwide," according to a release. Additionally, the acquisition will boost Teva's specialty pharmaceutical platform with the addition of Barr's women's health portfolio, the firms say...

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