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Allergan divests global generics business to Teva Pharma

Allergan announced that Teva Pharmaceuticals Industries Ltd. will acquire Allergan’s global generic pharmaceutical business for $40.5 billion.

Allergan will receive $33.75 billion in cash and $6.75 billion in Teva stock.

Allergan will retain 50% of Teva’s future economics from generic lenalidomide (Revlimid).

According to the press release, Teva will acquire Allergan’s legacy Actavis global generics business, including the U.S. and international generic commercial units, third-party supplier Medis, global manufacturing operations, the global generic R&D unit, the international over-the-counter commercial unit (excluding OTC eye care products) and some established international brands.

Allergan is retaining its global branded pharmaceutical and medical aesthetic businesses, its biosimilars development programs and the Anda distribution business.

Source: www.allergan.com