India’s second-largest pharmaceutical company, Dr Reddy’s Laboratories Ltd, said it had agreed to buy eight generic drugs from Teva Pharmaceutical Industries and Allergan Plc for $350 million in cash in an attempt to bolster its U.S. business.
The drugs Dr Reddy’s has agreed to buy are being divested by Israel-based Teva, in order to win U.S. antitrust clearance for its $40.5 billion acquisition of Allergan’s generic drugs portfolio. This sale to Dr Reddy’s puts Teva one step closer to closing the Allergan deal.
The deal consists of some generic drugs awaiting U.S. approval, as well as some that are already on the market. The branded versions of drugs under the deal had U.S. sales of about $3.5 billion in the year leading to April 2016, the company reported citing healthcare research firm IMS Health.
Full Content: NBC Daily
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI