(Israel Hayom/Exclusive to JNS.org) Israeli pharmaceutical giant Teva announced Tuesday that it has finalized its acquisition of Dublin-based Allergan's Actavis Global Generics for $40.5 billion. This is the biggest acquisition deal in the Israeli pharmaceutical industry's history.
As part of the deal, Teva Pharmaceutical Industries acquired Actavis Global Generics' with its U.S. and international generic commercial units, third-party supplier Medis, global generic manufacturing operations, and the global generic research and development unit as well as Allergan's international over-the-counter commercial unit and certain established international brands, an Allergan press release said.
Allergan is a global pharmaceutical company focused on developing, manufacturing and commercializing branded pharmaceuticals, devices and biologic products for patients around the world.
The deal means Teva will have 338 products awaiting FDA approval, including 115 products with a first-submit option -- a substantial commercial advantage in the global pharmaceutical industry.
Teva recently released a study showing the generic drugs it produces generated savings of about $215 billion to the U.S. healthcare system over the last decade.
"The acquisition of Actavis Global Generics will help us build a new Teva, one with a more solid foundation, upgraded financial profile and more diverse revenue and profit sources," Teva President and CEO Erez Vigodman said.