One day after Teva Pharmaceutical Industries closed its deal to buy Allergan’s generics business for $33.43 billion in cash and $5.3 billion in shares, the company purchase Allergan’s 4th largest distributor of generic pharmaceuticals in the US, for $500 million.
Anda Inc. distributes generic, brand, specialty and over-the-counter pharmaceutical products from more than 300 manufacturers to pharmacies across the U.S. including nursing homes, mail order pharmacies, hospitals, clinics and physician offices.
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In 2016 Anda is expected to generate more than $1 billion in third-party net revenue.
Teva President & CEO of Global Generic Medicines Siggi Olafsson said, “Anda is a natural fit into our business in general and our extensive supply chain network in particular. We believe Anda is truly a unique company which further enhances the offerings that Teva can provide. This strategic move enables us and our customers to improve capabilities and flexibility given the changes the pharmaceutical industry is currently undergoing, in order to provide access to more patients throughout the country. Additionally, both Teva and Anda’s customers will benefit from our ability as the largest producer of medicines in the world to leverage our size and scale.”
Olafsson adde, “Anda will continue to operate as a stand-alone business and report directly to me. The addition of Anda and their ability to service over half of their 60, 000 customers within 24 hours, combined with our existing offerings, will allow us to provide even better service to our customers.”
The closing of this transaction is subject to antitrust clearance and satisfaction of other conditions. The transaction is expected to close in the second half of the year.
