Teva to acquire Bentley Pharmaceuticals

Pharmaceutical major Teva has announced that it is to purchase Bentley for an aggregate cash price of around $360 million (£181 million).

The soon-to-be-acquired firm has a portfolio of around 130 products which it retails to physicians, pharmacists and hospitals.

Although Bentley mainly operates in the Spanish marketplace, its generic products are sold across the EU.

Shlomo Yanai, Teva’s president and chief executive officer, said it is an important move for Teva as the acquisition will allow it to capture a chunk of Spain’s fast-growing market.

James R Murphy, Bentley’s chairman and chief executive officer, stated that the purchase will mean his organisations becomes part of the “world’s leading generic pharmaceutical company”, giving it access to expert research and development opportunities.

This, he continued, “will enable us to better serve our customers in bringing to market high quality and affordable generic pharmaceuticals”.

Earlier this year, Teva revealed its full-year results for 2007, reporting record annual sales of $9.4 billion, an increase 12 per cent on the previous 12-month period.