Another Big Deal in Frenzied Pharma Sector
Latham's Charles Ruck, who advised Allergan on the sale of its generics business for $40.5 billion, has been busy.
July 27, 2015 at 12:51 PM
3 minute read
SAN FRANCISCO — The furious pace of consolidation and dealmaking in the global pharmaceutical industry continued Monday, with Allergan PLC agreeing to sell its generics business for $40.5 billion. Latham & Watkins represented Allergan in the sale to Teva Pharmaceutical Industries Ltd., a Jerusalem-based generic manufacturer. Per terms of the deal, Allergan will receive $33.75 billion in cash and $6.75 billion in Teva stock.
Sullivan & Cromwell represented Teva, with the help of Israeli law firm Tulchinsky Stern Marciano Cohen Levitski.
For Latham, Costa Mesa-based partner Charles Ruck led the deal. It is the second deal for Allergan in the past two days and the fourth pharmaceutical deal this month on which Ruck has led.
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