Teva Looking to Divest Products Ahead of Allergan Generics Deal
Teva 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
Subscribe to Generic Line and save $250 off the regular one-year price of $1,097 — plus receive a FREE copy of our webinar, Success Strategies for Biosimilars Approval — a $287 Value!
LINKS TO KEY DOCUMENTS — Each issue provides you with links that support GEN's articles such as FDA guidances, warning letters, rules, full texts of proposed legislation and more.
FDANEWS DRUG DAILY BULLETIN — This daily email brings you important FDA and international regulatory, legislative and business news in the pharmaceutical industry.
ONLINE ACCESS — Consider our newsletter archive your personal library! Search your current issue — and hundreds of past issues — by keyword and relevancy.
Copyright ©2018. All Rights Reserved. Design, CMS, Hosting & Web Development :: ePublishing