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Teva Pharmaceutical ... bidding to acquire Mylan.

Teva’s $40bn bid 'to transform generic drug sector'

LONDON, April 26, 2015

Teva Pharmaceutical Industries’ recent $40-billion bid to purchase Netherlands-based Mylan has the potential to transform the generic drugs arena, said an analyst with research and consulting firm GlobalData.

Mylan had made a $28.9 billion offer to buy the Irish drug-maker Perrigo last week, but Perrigo’s board of directors unanimously rejected the proposal, stating that the merger substantially undervalued the company and its future growth prospects, requiring Mylan to rework the offer for it to advance.

“If the deal goes ahead, the combined company would create a global generics giant with nearly $30 billion in revenue, and boasting a pipeline of more than 400 pending generic drug applications at the FDA,” remarked Gianfranco Zeppetelli.

“Teva also noted that there would be opportunities for substantial cost synergies and tax savings, which are estimated to be approximately $2 billion annually,” he added. – TradeArabia News Service




Tags: Netherlands | generic drugs | Teva Pharmaceutical |

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