Teva Pharmaceutical (TEVA) and Bar Pharma (BRL) Receives Merger Approval From European Commission
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Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) and Barr Pharmaceuticals, Inc. (NYSE: BRL) have 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.
Teva Pharmaceutical Industries Ltd., headquartered in Israel, is among the top 20 pharmaceutical companies in the world and is the leading generic pharmaceutical company. [SM]
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