Actavis Generics acquired by Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Ltd and Allergan plc have announced that Teva has completed its acquisition of Allergan’s generics business, Actavis Generics, following the receipt of regulatory approval from all required government authorities.

The strategic acquisition brings together two leading generics businesses with complementary strengths, brands and cultures.

“Actavis Generics’ world-class generics pipeline will further enhance Teva’s goal to deliver the highest-quality generic medicines at the most competitive prices. The result is a stronger, more competitive Teva, well positioned to thrive in an evolving global marketplace and deliver enhanced value to its stockholders and other stakeholders,” Erez Vigodman, Teva president and CEO, said.

“The acquisition of Actavis Generics comes at a time when Teva is stronger than ever—in both our generics and specialty businesses. Through our acquisition of Actavis Generics, we’re establishing a solid foundation for long-term, sustainable growth, anchored by leading generics capabilities and an unrivaled, late-stage pipeline that will accelerate our ability to build an exceptional portfolio of products— both in generics and specialty.”

With the acquisition, Teva now has over 325 product registrations pending FDA approval and holds the leading position in first-to-file opportunities with 123 pending ANDAs in the U.S.

Teva’s acquisition of Actavis Generics improves international commercial opportunities and significantly enhances the global scale of its sales and R&D platforms. Teva now has commercial presence across 100 markets, including a top-three leadership position in over 40 markets.

Teva expects to achieve cost synergies and tax savings of approximately $1.4 billion annually, largely achievable by the third anniversary of the closing of the transaction. Teva expects the savings to come from efficiencies in operations, G&A, manufacturing and sales and marketing.