Allergan to sell generic business for $40bn
Israeli drugmaker Teva Pharmaceuticals is in advanced talks to buy the generic drug business of Dublin-based Allergan for $40bn (€36bn). A deal may be announced as soon as today.
A deal with Allergan would also let Teva drop its protracted battle to take over another generics maker, Mylan, which has been a source of friction.
The purchase would extend a wave of mergers that has swept over the healthcare industry. Announced pharmaceutical deals so far this year have topped $180bn. That puts the sector on track to comfortably beat last year's total of $200bn worth of mergers.