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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Allergan plc | NYSE:AGN | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 193.02 | 0 | 01:00:00 |
From May 2019 to May 2024
By Razak Musah Baba
Teva Pharmaceutical Industries Ltd. on Monday said it would buy Allergan PLC's generics unit for $40.5 billion in cash and stock in a deal that will vault the Israeli company into the top ranks of global drug makers.
Teva, the world's largest generic-drug company by sales, said Allergan would receive $33.75 billion in cash and shares in Teva valued at $6.75 billion, giving it a 10% stake in Teva.
"This transaction delivers on Teva's strategic objectives in both generics and specialty," Teva Chief Executive Erez Vigodman said.
Teva said it expected the acquisition of Allergan Generics to contribute $2.7 billion in earnings before tax depreciation and amortization, or Ebitda, in 2016, excluding synergies.
The company added that the transaction was unanimously approved by the boards of both Teva and Allergan and is expected to close in the first quarter of 2016.
In a separate statement, Teva said that as a result of the Allergan deal it would drop its bid for rival Mylan NV.
Write to Razak Musah Baba at Razak.Baba@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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