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Home Industry News Teva cleared by EC for Ivax takeover

Teva cleared by EC for Ivax takeover

29th November 2005

The European Commission (EC) has cleared Israel’s Teva Pharmaceutical in the acquisition of rival US firm Ivax Pharmaceutical.

The $7.4 billion deal will make Teva the world’s top generic drugmaker.

A market investigation was carried out by the EC into the five pharmaceutical markets where both parties are active and have more than 15 per cent market share.

It also looked at the ten active ingredient markets where one or other of the parties has a market share of more than 25 per cent and where the other party uses the ingredient in question in its products.

Following the study the commission concluded that the transaction would not significantly impede competition in the EU and so cleared the acquisition.

“In each of the pharmaceutical markets, the increase in market share resulting from the transaction is very limited. On the active ingredient markets, there will be little or no change in the supply structure. As for most of Teva’s active ingredients products, Ivax’s share in the relevant downstream markets is minimal,” said a European Commission statement.

The deal, expected to be concluded early next year, will give Teva the rights to make generic copies of several lucrative brand-name drugs and make it the world’s top manufacturer of generic drugs overtaking Switzerland’s Novartis.

track© Adfero Ltd

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