Israel’s Teva Pharmaceutical Industries, the world’s largest maker of generic drugs, has completed the acquisition of Actavis Generics, a unit of Ireland-based Allergan, the company said in a statement.
The deal, announced a year ago, had a price tag of $40.5 billion in cash and Teva shares. It included the acquisition of Actavis’ global generics business, including commercial units, manufacturing operations, and R&D units related to generics, as well as the international over-the-counter (OTC) commercial unit, not including eye care products.
Actavis has been present in Bulgaria since 2000. With two manufacturing sites in the towns of Dupnitsa and Troyan, Actavis is the highest selling pharmaceutical company in Bulgaria. Actavis EAD is also the unit responsible for sales and marketing activities in Bulgaria.
About 40 per cent of production from the plants goes to the Bulgarian market. The rest is destined for foreign markets, including Russia and CIS countries, Ukraine and Belarus. In recent years, products from the Bulgarian factories have been entering the markets of EU countries such as Slovakia, Poland, the Baltic States and Romania, among others.
“The acquisition of Actavis Generics comes at a time when Teva is stronger than ever – in both our generics and specialty businesses,” Teva president and CEO Erez Vigodman said in the statement. “Through our acquisition of Actavis Generics, we are creating a new Teva with a strong foundation, significantly enhanced financial profile and more diversified revenue sources and profit streams backed by strong product development engines in both generics and specialty.