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Teva agrees to buy Allergan's generic-drug unit for US$40.5b

Deal allows Israeli drugmaker to extricate itself from its increasingly antagonistic pursuit of Mylan

The Allergan agreement bolsters Teva's position as the world's largest maker of generic drugs, and gives it greater negotiating power with governments and private-health insurers.


ISRAELI drugmaker Teva Pharmaceuticals Industries Ltd has agreed to buy the generic-drug business of Allergan plc for about US$40.5 billion in cash and stock, and ended its hostile bid for Mylan NV.

Teva will pay US$33.75 billion in cash and US$6.75 billion worth of shares