Teva and Barr receive European approval for acquisition

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Dec 22 2008

Teva Pharmaceutical Industries Ltd. and Barr Pharmaceuticals, Inc. have announced that they received approval from the European Commission to proceed with Teva's acquisition of Barr.

In connection with this approval, Teva and Barr are required to divest certain formulations of 17 generic drugs in certain specific countries with respect to which they have a product overlap, representing approximately $6 million in the companies' annual sales.

The companies continue to expect that the transaction will close this month.

Source:

http://www.barrlabs.com/

Posted in: Pharmaceutical News

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