Teva Pharmaceutical Industries has agreed to buy Allergan Plc's generic drugs business for $40.5 billion in a cash and stock deal that will turn the Israeli company into one of the world's largest pharmaceutical firms.
Teva Pharmaceutical Industries Ltd (TEVA.TA) is in advanced talks to buy Allergan Plc's (AGN.N) generic drug business following a thus far unsuccessful effort to acquire peer Mylan NV (MYL.O), according to a person familiar with the matter.
Teva Pharmaceutical Industries Ltd (TEVA.TA) is preparing to raise its bid for rival drugmaker Mylan NV (MYL.O) by as much as $2 billion, to $43 billion, Bloomberg reported on Monday, citing people familiar with the matter.
Mylan NV (MYL.O) rejected Teva Pharmaceutical Industries Ltd's (TEVA.TA) $40 billion takeover offer on Monday, saying in a scathing letter that it grossly undervalued the company and that Mylan has no interest in payment in what it termed "high-risk" Teva stock.
When a series of big U.S. companies last year moved to reincorporate abroad in inversion deals, some Republican lawmakers and tax policy critics blamed the high U.S. corporate tax rate. Lowering it, they said, would keep companies from fleeing the country.
Ben Venue Laboratories, a subsidiary of German Boehringer Ingelheim in the US, has engaged Bank of American Merill Lynch to advise it on a proposed sale of its sterile injectable drugs business.
US-based generic drug manufacturer Mylan and two Indian pharmaceutical firms are in talks to buy Chennai-based Bafna Pharmaceuticals for an undisclosed amount, according to two sources familiar with the transaction.
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