FDAnews Drug Daily Bulletin
May 17, 2005 | Vol. 2 No. 97
Teva Looks to Buy Indian Drugmaker
Teva Pharmaceuticals is in negotiations to acquire Indian drug manufacturer Aurobindo, based on a company value of $380-410 million. According to a report appearing in the Indian financial newspaper, The Economic Times, Teva is seeking to acquire at least 26 percent of Aurobindo's share capital, such that the deal would involve a purchase price of some $100 million. Since Teva does not customarily hold minority stakes in companies, it is reasonable to assume that at a later stage, the Israeli drugmaker would seek to purchase full control of the Indian company.
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