Teva Pharmaceutical Industries is divesting about $1 billion worth of assets to address antitrust concerns over its deal to buy Allergan's generic drug business, sources told Reuters.
Teva announced in July that it had signed a definitive agreement with Allergan to acquire Allergan Generics in a $40.5 billion transation.
Teva's divestiture will help keep the Allergan deal on schedule to close by the first quarter of 2016. It will also clear the way for the $160 billion Allergan Pfizer mega-merger, which is contingent on Allegan completing its generic drug sale to Teva.
The Teva assets being divested span the U.S., Europe and the Middle East, and will be sold in a series of processes, Reuters' sources reported.
Read the Reuter's article
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