Teva likely mean the end of Teva’s pursuit of another
Teva Pharmaceutical Industries Ltd. likely mean the end of pursuit of Mylan acquisition. The Israeli world’s biggest generic pharmaceutical maker is set to buy the generics unit of Allergan plc, in a deal worth $45 billion, the “Wall Street Journal” reports.
Sources familiar with the matter told WSJ that the deal could be announced on Monday.
In 2014, Allergan was the world’s third-largest seller of generic drugs after Teva and Novartis AG with $6.6 billion in sales, according to EvaluatePharma.
Teva is under pressure to consolidate its position in the market with a major acquisition because its top selling product for multiple-sclerosis treatment, Copaxone, started facing lower-priced competition in the U.S. last month due to its patent rights expired .
In April, Teva has been pursuing a hostile takeover bid for Mylan N.V. for more than $40 billion. Last week Mylan invoked a “poison pill” to avert the takeover, when the Dutch fund Stichting exercised its call option to temporarily takeover Mylan and protect it from being bought.
If the Allergan unit is spun off and merged with Teva, then Mylan’s $35 billion takeover bid for Perrigo Company could go ahead, as planned.
One thing Allergan CEO David Pyott enjoyed doing was
running his company. When activist investor Bill Ackman
of Pershing Square decided to have Valeant Pharmaceuticals
try to swallow up the Botox maker in a hostile More…
– Hedge fund mogul William Ackman told investors they
could see a $6 billion payday when he closes the chapter on
Allergan Inc., his firm’s biggest bet of 2014. One week after
Allergan agreed to sell More…
The seven-month battle over American Botox haven pharmaceutical
company Allergan is over, after it accepted a friendly takeover bid
from Irish integrated specialty pharmaceutical Actavis. The Actavis
offer of combined More…
After an intense and acrimonious months long battle for a hostile takeover
of Allergan, Bill Ackman, who owns a 9.7% stake in the company, finally gave
up his battle to convene a special shareholders’ meeting More…
– Activist investor William “Bill” Ackman said on Tuesday he supports
the $66 billion deal in which Actavis PLC will buy Allergan Inc and will
withdraw his request for an Allergan special shareholder More…
– Botox maker Allergan Inc on Monday accepted a $66 billion
takeover bid from Actavis Plc, ending a seven-month hostile pursuit
by activist investor William (Bill) Ackman and Valeant Pharmaceuticals
Salix Pharmaceuticals was considered as a potential buy by Allergan to
ward off a hostile takeover by Valeant Pharmaceuticals and activist investor
Bill Ackman. Jim Cramer pointed out on CNBC that it is fortunate More…
– While federal judge David Carter said Allergan had raised ” serious questions”
about the legal implication of Bill Ackman’s Pershing Square and Valeant’s $53 billion
takeover bid, More…
In the ongoing hostile pursuit to take over Allergan, major shareholderin the
company, Bill Ackman and Valeant just don’t seem ready to quit, even though
the company has been doing quite well, thank you, More…
It is no secret that Allergan has been in a war against Valeant Pharmaceuticals
and activist investor Bill Ackman, who owns a stake in Allergan, to avoid being
taken over by Valeant in what it sees as an offer More…