Supplier News Breaks Archives
Teva wraps up Cephalon acquisition
October 17th, 2011
JERUSALEM – Teva Pharmaceutical Industries Ltd. has closed its acquisition of Cephalon Inc.
Teva said that as of Friday, Cephalon became a wholly owned subsidiary of and ceased to be traded on Nasdaq.
The two pharmaceutical companies unveiled the $6.8 billion deal this past spring. Under the merger agreement, each share of Cephalon common stock has been converted into the right to receive $81.50 in cash.
Teva noted that the combined company will have a significant presence in more than 60 countries and generated about $20 billion in revenue on a pro-forma basis for the 12 months ended in June.
"This important transaction reinforces Teva's long-term strategy of building out our branded and specialty pharmaceuticals business through diversification and expansion of our product portfolio and pipeline, while enhancing our position as the worldwide leader in generics,” Shlomo Yanai, Teva president and chief executive officer, said in a statement. "Our newly expanded portfolio in CNS, oncology, respiratory and women's health, along with our robust pipeline of more than 30 late-stage products, truly cements our position as a leader in specialty pharma."