Teva Pharma (TEVA) Announces Completion of Actavis Generics (AGN) Acquisition
August 2, 2016 1:15 PM
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA ) and Allergan plc (NYSE: AGN ) today announced that Teva has completed its acquisition of Allergan’s generics business (“Actavis Generics”).
This strategic acquisition brings together two leading generics businesses with complementary strengths, R Teva will have a pipeline capable of over 5000 launches across the region. In Teva growth markets including, Asia, Africa, Latin America, Middle East, Russia and CIS, there are now approximately 600 pending product approvals. Overall, Teva is planning for 1,500 generic launches globally in 2017.
Teva’s products generated approximately $215 billion in savings in the last decade to the U.S. healthcare system; this number will continue to increase and even accelerate as a result of the acquisition.
“Teva now has some of the best assets, people and capabilities in the industry. We have a clear responsibility to turn those strengths into meaningful results for patients, customers and the communities we serve, as well as for our shareholders,” said Siggi Olafsson, President and CEO, Global Generic Medicines, Teva. “We are pleased to welcome our talented new colleagues from Actavis Generics, including many first-class scientists and business leaders.”
Increased Global Commercial Reach
Teva’s acquisition of Actavis Generics improves international commercial opportunities and significantly enhances the global scale of its sales and R
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