Teva completes Cephalon acquisition

Teva has completed its buyout of US biopharmaceutical company Cephalon, which became a wholly owned subsidiary of the firm earlier this month.

According to an official statement, the combined organisation will have a presence in more than 60 countries and generated revenues of approximately $20 billion (12.5 billion pounds) in the 12 months to June 2011.

Shlomo Yanai, president of Teva, said many Cephalon employees will be welcomed into the Israel-based company.

"The combination of our two winning teams will position Teva to create maximum value for our patients and customers," he added.

Mr Yanai also pointed out that Teva now boasts an expanded portfolio in the areas of CNS, oncology, women's health and respiratory conditions, as well as a pipeline containing "more than 30 late-stage products".

Teva is due to report its financial results for the third quarter of the year on Wednesday November 2nd, with a conference call and live webcast taking place on the same day.