Sector News

Teva divests UK, Ireland assets

October 6, 2016
Life sciences

Teva Pharmaceutical Industries is planning to sell off assets and operations of Actavis Generics in the UK and Ireland to Intas Pharmaceuticals subsidiary Accord Healthcare for £603 million.

The move, which remains subject to final regulatory approval, is part of an agreement with the European Commission to sell off certain assets in various countries it acquired through its $40.5-billion purchase of Allergan’s global generics business.

The sale will include a portfolio of generic medicines plus a manufacturing plant in Barnstaple, England.

The remainder of the Allergan Generics UK/Ireland business will be integrated with Teva’s operations in line with the global transaction.

“With the assets that it will retain, Teva will create an even stronger operation in the UK and Ireland,” said Siggi Olafsson, president and chief executive of Global Generic Medicines Teva.

“Teva is the leading provider of medicines to the UK National Health Service, and the addition of the retained Actavis assets strengthens our ability to be the partner of choice in these countries while preserving strong and healthy competition in a competitive marketplace.”

By Selina McKee

Source: Pharma Times

comments closed

Related News

June 24, 2022

Echosens and Novo Nordisk announce partnership to increase awareness and advance early diagnosis of NASH

Life sciences

Echosens, a high-technology company offering liver diagnostic solutions, and Novo Nordisk A/S, a leading global healthcare company, announced a partnership to advance early diagnosis of non-alcoholic steatohepatitis (NASH) and increase awareness of the disease among patients, healthcare providers and other stakeholders.

June 24, 2022

argenx receives positive CHMP opinion for Efgartigimod for the treatment of adult patients with Generalized Myasthenia Gravis in Europe

Life sciences

Positive opinion based on Phase 3 ADAPT trial showing efgartigimod provided clinically meaningful improvements in strength and quality of life measures. If approved, efgartigimod will be the first neonatal Fc receptor (FcRn) blocker for the treatment of adults in Europe living with rare neuromuscular disease generalized myasthenia gravis (gMG).

June 24, 2022

Galapagos finally takes M&A plunge, spending $251M for 2 biotechs in CAR-T push

Life sciences

Galapagos CEO Paul Stoffels, M.D., has finally taken the plunge on M&A. The newly minted chief executive has signed not one but two deals in an attempt to right the ship, bringing two small biotechs aboard for a combined 239 million euros ($251.4 million).