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
Add BT as a preferred source
London
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 at Monday's price, or about 10 per cent of the enlarged company, the Petach Tikva, Israel-based company said in a statement. Teva surged as much as 11 per cent as trading resumed in Tel Aviv.
TRENDING NOW
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
