Teva Pharmaceutical Industries has completed its acquisition of Allergan’s generics business (“Actavis Generics”).
This acquisition brings together two leading generics businesses with complementary strengths, R&D capabilities, product pipelines and portfolios, geographical footprints, operational networks and cultures.
“The acquisition of Actavis Generics comes at a time when Teva is stronger than ever—in both our generics and specialty businesses,” said Erez Vigodman, president and CEO, Teva. “Through our acquisition of Actavis Generics, we are creating a new Teva with a strong foundation, significantly enhanced financial profile and more diversified revenue sources and profit streams backed by strong product development engines in both generics and specialty.”
With the acquisition, Teva says it has about 338 product registrations pending FDA approval and holds the leading position in first-to-file opportunities with approximately 115 pending ANDAs in the U.S. In Europe, after divestitures, Teva will have a pipeline capable of over 5,000 launches across the region. In Teva growth markets including, Asia, Africa, Latin America, Middle East, Russia and CIS, there are now approximately 600 pending product approvals. Overall, Teva is planning for 1,500 generic launches globally in 2017.
Teva’s products generated approximately $215 billion in savings in the last decade to the U.S. healthcare system; this number will continue to increase and even accelerate as a result of the acquisition.
In other company news, Teva announced that it has entered into an agreement to buy Allergan’s Anda Inc., the 4th largest distributor of generic pharmaceuticals in the United States for $500 million.
“Anda is a natural fit into our business in general and our extensive supply chain network in particular,” stated Siggi Olafsson, President & CEO of Global Generic Medicines. “This strategic move enables us and our customers to improve capabilities and flexibility given the changes the pharmaceutical industry is currently undergoing, in order to provide access to more patients throughout the country. Additionally, both Teva and Anda’s customers will benefit from our ability as the largest producer of medicines in the world to leverage our size and scale."
Anda distributes generic, brand, specialty and over-the-counter pharmaceutical products from more than 300 manufacturers to retail independent and chain pharmacies, nursing homes, mail order pharmacies, hospitals, clinics and physician offices across the United States. For the full year 2016, Anda is expected to generate more than $1 billion in third-party net revenue.