Israel's Teva buys Allergan generic drug company for $40.5B
Israel's Teva Pharmaceutical Industries Ltd. said Monday it is purchasing Dublin-based Allergan PLC's generic pharmaceuticals business for $40.5 billion, in what Israeli analysts called the largest-ever acquisition by an Israeli company.
Statements from both companies say the deal will see Allergan receive $33.75 billion in cash and shares of Teva valued Monday at $6.75 billion. In light of the acquisition, Teva said it was withdrawing its $40 billion-plus takeover offer for pharmaceuticals company Mylan N.V.
