Teva Gets What It Wants – Allergan Generics, Not Mylan
This article was originally published in The Tan Sheet
Teva’s $40.5 billion acquisition of Allergan Generics will solidify Teva as the world’s leading generics company with $26 billion in combined revenues and 320 ANDAs pending at FDA.
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The notoriously thin margins of generic drug manufacturers, over-leveraging and pending legal cases should have been subordinated by the continuing needs for generic drugs during lockdowns.
The combined company will have pro forma 2020 revenues of $19bn to $20bn, generate $1bn in synergies by 2023 and be led by Upjohn CEO Michael Goettler. Mylan's longtime CEO Heather Bresch will depart.