Allergan to Sell Stake in Teva

Nov. 2, 2017

Allergan said it will begin to sell off its nearly 10 percent stake in Teva Pharmaceuticals, as the Israeli drugmaker plummets in value.

Allergan sold its generics business -- Actavis Generics -- to Teva in August 2016 for $33 billion in cash and 100 million shares of the generic drugmaker, worth around $5.3 billion at the time. Allergan was required to hold the shares for at least one year.

Read the Reuters coverage