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

comments closed

Related News

May 15, 2022

Novo Nordisk and Flagship Pioneering announce a strategic collaboration to create a portfolio of transformational medicines

Life sciences

The companies will explore opportunities to apply Flagship’s innovative bioplatforms – an ecosystem that currently comprises 41 companies – to scientific challenges in disease areas within cardiometabolic and rare diseases and initiate research programmes based on these.

May 15, 2022

BD, Babson set sights on bringing simple blood collection into the home

Life sciences

BD is expanding its long-running partnership with the blood collection company Babson Diagnostics. The two companies have been working together since 2019 on a device that can gather small volumes of blood from the capillaries in the fingertip without requiring any specialized training, and beginning with a focus on supporting primary care in retail settings.

May 15, 2022

CSL’s $11.7B Vifor buy, 2021’s biggest biopharma M&A deal, hits antitrust delay

Life sciences

Wednesday, Australian biotech CSL said (PDF) the regulatory review of its $11.7 billion acquisition of Switzerland’s Vifor Pharma will take “a few more months,” suggesting it won’t be able to close the transaction by June 2022 as previously expected.