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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

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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.

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...

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