News
14.10.2011
Teva Completes Acquisition of Cephalon
-- Combined organization will provide customers with a broad
spectrum of specialty branded products in addition to the world’s
largest generic drug portfolio--
Jerusalem, October 14, 2011 - Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) announced today that it has completed its acquisition of Cephalon, Inc. (NASDAQ: CEPH). The combined company will have a significant presence in over 60 countries and generated approximately $20 billion in revenues on a pro-forma basis for the twelve months ended June 2011.
“This important transaction reinforces Teva's long term strategy of
building out our branded and specialty pharmaceuticals business through
diversification and expansion of our product portfolio and pipeline,
while enhancing our position as the worldwide leader in generics,” said
Shlomo Yanai, President and CEO of Teva. “Our newly-expanded portfolio
in CNS, Oncology, Respiratory and Women’s Health along with our robust
pipeline of more than 30 late-stage products truly cements our position
as a leader in specialty pharma.”
Mr. Yanai added, “We are welcoming many of Cephalon’s talented employees
into the Teva family. The combination of our two winning teams will
position Teva to create maximum value for our patients and customers.”
On October 14, 2011, Cephalon Inc. became a wholly owned subsidiary of
Teva and ceased to be traded on NASDAQ. Pursuant to the merger agreement
between the parties, each share of Cephalon common stock has been
converted into the right to receive $81.50 in cash. Share exchange
instructions and a letter of transmittal will be mailed to Cephalon
shareholders shortly.
As previously announced, Teva expects the acquisition to be immediately
accretive to Teva's non-GAAP earnings per share and accretive to Teva's
GAAP earnings within the fourth quarter of closing.
About Teva Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) is a leading global pharmaceutical company, committed to increasing access to high-quality healthcare by developing, producing and marketing affordable generic drugs as well as innovative and specialty pharmaceuticals and active pharmaceutical ingredients. Headquartered in Israel, Teva is the world's largest generic drug maker, with a global product portfolio of more than 1,300 molecules and a direct presence in about 60 countries. Teva's branded businesses focus on neurological, respiratory and women's health therapeutic areas as well as biologics. Teva currently employs approximately 42,000 people around the world and reached $16.1 billion in net sales in 2010.
