Teva to acquire Allergan Generics for $40.5 billion

In a mega deal in the global pharmaceuticals sector, Israeli drug maker major Teva will acquire Allergan Generics for $40.5 billion in a cash and stock transaction. The company also announced it has withdrawn its $40 billion cash and stock proposal to acquire Mylan made in April this year following its decision to acquire Allergan Generics from Irish firm Allergan Plc, the maker of world-renowned brand Botox.

“Upon closing, Allergan will receive $33.75 bn in cash and shares of Teva valued today at $6.75 bn, representing an estimated under 10 per cent ownership stake in Teva.