Sector News

Teva receives EU approval for the Allergan acquisition

March 14, 2016
Life sciences

Teva Pharmaceutical Industries Ltd. Friday announced that it has received regulatory approval from the European Commission for its acquisition of Allergan plc’s global generics business.

As part of the approval, Teva has agreed to the divestment of certain overlapping molecules in 24 European countries, other than the United Kingdom, Ireland andIceland. In the United Kingdom and Ireland, Teva will divest a majority of the current Allergan Generic business. As required by the European Commission, the divested business will be capable of manufacturing and marketing generic medicines. The remainder of the Allergan Generics UK/Ireland business will be integrated with Teva’s operations in line with the global transaction. In Iceland, Teva will divest its generic business while retaining the Allergan Generics business.

Teva continues to work closely with the FTC to obtain regulatory approval in the U.S.

Source: Teva

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