Teva completes acquisition of Allergan generics business

Teva’s acquisition of Allergan’s generic business (Actavis Generics) has been completed, the company revealed yesterday.

The acquisition is intended to improve research and development capabilities, product portfolios and geographical footprints, Teva said in a statement.

Erez Vigodman, CEO of Teva said: “Through our acquisition of Actavis Generics, we are creating a new Teva with a strong foundation.”

Actavis began using the name Allergan in June 2015 after acquiring the company in March of that year.

Teva now has approximately 338 product registrations pending Food and Drug Administration approval, along with 115 pending Abbreviated New Drug Applications in the US.

In total, the Isreal-based company is planning around 1,500 generic launches worldwide in 2017.

Last week, LSIPR reported that the Federal Trade Commission had accepted the $40.5 billion buyout after Teva agreed to sell nearly 80 products to address competition concerns.