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Home Industry News Teva to sell off Actavis Generics assets in UK and Ireland

Teva to sell off Actavis Generics assets in UK and Ireland

6th October 2016

Teva has announced the sale of the recently-acquired assets and operations of Actavis Generics to Accord Healthcare in a 603 million pound deal.

The sale of these operations comes as part of a pledge Teva made to the European Commission under the terms of the regulator's approval of the acquisition of Actavis Generics earlier this year. 

As such, it will divest a portfolio of generic medicines to Accord Healthcare, plus a manufacturing plant in Barnstaple, England. Teva will retain a number of non-overlapping generic products, plus certain specialty medicines and over-the-counter products.

The deal is expected to close within the next three months, subject to final approval from the European Commission.

Siggi Olafsson, president and chief executive officer for Teva's global generic medicines business, said: "Teva is the leading provider of medicines to the NHS, and the addition of the retained Actavis assets strengthens our ability to be the partner of choice in these countries while preserving strong and healthy competition in a competitive marketplace."

This comes after the firm appointed Kim Innes as its new general manager for the UK and Ireland last week, succeeding Richard Daniell.

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