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Home Industry News Teva completes acquisition of Taiyo

Teva completes acquisition of Taiyo

15th July 2011

Teva has expanded the scope of its business after completing its acquisition of generic medicine specialist Taiyo.

The Japan-based pharmaceutical company has been acquired in a deal worth $934 million (580.1 million pounds), giving Teva control of an organisation that generated $530 million in sales last year.

In addition, it will provide the firm with access to a product portfolio including more than 550 offerings, a strong research and development team and a state-of-the-art production facility.

Teva states that the acquisition is also part of its long-term objective to expand its presence in Taiyo's native Japan.

Shlomo Yanai, the company's president and chief executive officer, said: "This is an important milestone in executing Teva's long-term strategic plan."

Teva is also currently in the process of closing a deal to purchase the specialty and branded pharmaceuticals manufacturer Cephalon, with a $6.8 billion purchase price having been agreed by the two companies earlier this year.ADNFCR-8000103-ID-800623656-ADNFCR

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