Teva Looking to Divest Products Ahead of Allergan Generics DealTeva Pharmaceuticals is trying to divest assets in anticipation of regulatory objections to its purchase of Allergan’s generics division, according to a corporate filing. The Israeli company disclosed in a Dec. 3 SEC filing that it “is currently seeking potential buyers for products expected to be divested” to ensure the company’s planned $40.5 billion purchase of Allergan’s global generics operation. According to the prospectus, Teva anticipates that regulators in the U.S. and EU may oppose the planned merger due to some shared product lines with Allergan’s generics division and is making plans in advance. “Teva’s assumptions as to the impact of products required to be divested are solely based on management’s assessments and publicly available information,” the document states. “These assumptions will likely change following the completion of the acquisition based on conditions imposed in connection with regulatory approvals.” The filing does not disclose what products Teva is attempting to unload or what price it is putting on them. The prospectus form was filed as part of the company’s planned sale of 54 million American Depositary Shares —equivalent to corporate stock when purchasing foreign companies — with which the company intends to fund the Allergan division purchase. Read the prospectus form here: www.fdanews.com/12-04-15-Teva.pdf. — Cameron Ayers |
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