Teva acquires Cephalon

Israel’s Teva Pharmaceutical Industries has agreed to buy Cephalon in a $6.8 billion deal. The acquisition of fellow pharma company will give Teva, the world’s largest generic drug developer, a range of branded drugs and more than 30 potential products …

Israel’s Teva Pharmaceutical Industries has agreed to buy Cephalon in a $6.8 billion deal. The acquisition of fellow pharma company will give Teva, the world’s largest generic drug developer, a range of branded drugs and more than 30 potential products in late-stage development.

Cephalon is known for making Nuvigil and Provigil, both used in the treatment of narcolepsy. Teva said in a statement that the two companies would have about $7 billion in combined sales.

“Together, we can create something far better than we can apart,” said Teva’s Americas CEO Bill Marth.

The companies hope their merger will make them leaders in specialty pharmaceuticals, with a strong presence in fields such as central nervous system and respiratory conditions, oncology and pain management.

“By joining forces with Teva, we will benefit from their scale, worldwide reach and operational excellence, allowing us to further pursue our shared goals of delivering new innovative therapies,” said Kevin Buchi, CEO of Cephalon.

Teva has about 40,000 employees worldwide and Cephalon has about 4,000.

The deal is subject to approval by Cephalon shareholders, and is expected to close in the second half of the year.

 

About Viva Sarah Press

Viva Sarah Press is an associate editor and writer at ISRAEL21c. She has extensive experience in reporting/editing in the print, online and broadcast fields. She has jumped out of a plane, ducked rockets and been attacked by a baboon all in the name of a good story. Her work has been published by international media outlets including Israel Television, CNN, Reuters, The Jerusalem Post and Time Out.