Ivax Diagnostics (AMEX:IVX)
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From Jun 2019 to Jun 2024
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) and
IVAX Corporation (AMEX: IVX) announced today that they received
unconditional approval from the European Commission to proceed with
Teva's acquisition of IVAX.
This European approval completes the non-U.S. regulatory review
process, which was required to be completed prior to closing the
transaction. Teva and IVAX are continuing to work closely with the
U.S. Federal Trade Commission to enable the FTC to complete its review
processes shortly.
As previously announced, the companies continue to expect that the
transaction will close in late 2005 or early 2006.
About Teva
Teva Pharmaceutical Industries Ltd., headquartered in Israel, is
among the top 20 pharmaceutical companies and among the largest
generic pharmaceutical companies in the world. The company develops,
manufactures and markets generic and innovative human pharmaceuticals
and active pharmaceutical ingredients. Close to 90% of Teva's sales
are in North America and Europe.
About IVAX
IVAX Corporation, headquartered in Miami, Florida, discovers,
develops, manufactures, and markets branded and brand equivalent
(generic) pharmaceuticals and veterinary products in the U.S. and
internationally.
Safe Harbor Statement under the U.S. Private Securities Litigation
Reform Act of 1995:
The statements, analyses and other information contained herein
relating to the proposed merger and anticipated synergies, savings and
financial and operating performance, including estimates for growth,
trends in each of TEVA Pharmaceutical Industries Ltd.'s and IVAX
Corporation's operations and financial results, the markets for TEVA's
and IVAX' products, the future development of TEVA's and IVAX'
business, and the contingencies and uncertainties to which TEVA and
IVAX may be subject, as well as other statements including words such
as "anticipate," "believe," "plan," "estimate," "expect," "intend,"
"will," "should," "may" and other similar expressions, are
"forward-looking statements" under the Private Securities Litigation
Reform Act of 1995. Such statements are made based upon management's
current expectations and beliefs concerning future events and their
potential effects on the company.
Actual results may differ materially from the results anticipated
in these forward-looking statements. Important factors that could
cause or contribute to such differences include whether and when the
proposed acquisition will be consummated and the terms of any
conditions imposed in connection with such closing, TEVA's ability to
rapidly integrate IVAX' operations and achieve expected synergies,
diversion of management time on merger-related issues, TEVA and IVAX'
ability to successfully develop and commercialize additional
pharmaceutical products, the introduction of competitive generic
products, the impact of competition from brand-name companies that
sell or license their own generic products (so called "authorized
generics") or successfully extend the exclusivity period of their
branded products, the effects of competition on Copaxone(R) sales,
regulatory changes that may prevent TEVA or IVAX from exploiting
exclusivity periods, potential liability for sales of generic products
prior to completion of appellate litigation, including that relating
to Neurontin, the impact of pharmaceutical industry regulation and
pending legislation that could affect the pharmaceutical industry, the
difficulty of predicting U.S. Food and Drug Administration, European
Medicines Association and other regulatory authority approvals, the
regulatory environment and changes in the health policies and
structure of various countries, TEVA's ability to successfully
identify, consummate and integrate acquisitions, exposure to product
liability claims, dependence on patent and other protections for
innovative products, significant operations outside the United States
that may be adversely affected by terrorism or major hostilities,
fluctuations in currency, exchange and interest rates, operating
results and other factors that are discussed in TEVA 's Annual Report
on Form 20-F, IVAX' Annual Report on Form 10-K and their other filings
with the U.S. Securities and Exchange Commission. Forward-looking
statements speak only as of the date on which they are made, and
neither TEVA nor IVAX undertakes no obligation to update publicly or
revise any forward-looking statement, whether as a result of new
information, future developments or otherwise.
This communication is being made in respect of the proposed merger
involving Teva and IVAX. In connection with the proposed merger, Teva
has filed a registration statement on Form F-4 containing a joint
proxy statement/prospectus for the shareholders of Teva and IVAX with
the SEC. Before making any investment decision, IVAX shareholders and
other investors are urged to read the joint proxy statement/prospectus
regarding the merger and any other relevant documents carefully in
their entirety because they contain important information about the
proposed transaction. The registration statement containing the joint
proxy statement/prospectus and other documents are available free of
charge at the SEC's website, www.sec.gov. You may also obtain the
joint proxy statement/prospectus and other documents free of charge by
contacting IVAX Investor Relations at (305) 575-6000 or Teva Investor
Relations at 972-3-926-7554.