Big Deals: Pharma Company Buys Generics Business for $40.5B
Israel's Teva Pharmaceutical Industries Ltd. is purchasing Dublin-based Allergan PLC's generic pharmaceuticals business for $40.5 billion, in what Israeli analysts called the largest-ever acquisition by an Israeli company.
August 05, 2015 at 09:00 PM
4 minute read
Israel's Teva Pharmaceutical Industries Ltd. is purchasing Dublin-based Allergan PLC's generic pharmaceuticals business for $40.5 billion, in what Israeli analysts called the largest-ever acquisition by an Israeli company.
Statements from both companies say the deal will see Allergan receive $33.75 billion in cash and shares of Teva valued Monday at $6.75 billion. In light of the acquisition, Teva said it was withdrawing its $40-billion-plus takeover offer for pharmaceuticals company Mylan N.V.
Sullivan & Cromwell represents Teva with a team that includes corporate partners Joseph Frumkin and Krishna Veeraraghavan in New York, Eric Krautheimer in Los Angeles and Sarah Payne in Palo Alto; executive compensation and benefits partner Matthew Friestedt and associate Heather Coleman in New York; intellectual property partner Nader Mousavi in Palo Alto; tax partners Davis Wang in New York and Michael McGowan in London; and antitrust partners Steven Holley in New York and Juan Rodriguez in London.
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