Teva-Barr deal complete
This article was originally published in The Tan Sheet
Teva Pharmaceutical Industries' $7.5 billion acquisition of Barr Laboratories is complete, the Jerusalem-based generics firm says Dec. 23. Teva will pay an additional $1.5 in debt settlement, and receive the rights to Barr's OTC emergency contraceptive Plan B and its women's health portfolio (1"The Tan Sheet" July 21, 2008, In Brief). Under an antitrust settlement with the Federal Trade Commission announced Dec. 19, the combined entity will divest some generic drugs to Watson Pharmaceuticals and Qualitest Pharmaceuticals to complete the acquisition
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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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