Posted on July 18, 2008 by BioJobBlogger

It's a Done Deal--Teva To Buy Barr Pharmaceuticals for $7.5 Billion

Teva and Barr Pharmaceuticals announced today that they have signed a definitive agreement under which Teva will acquire Barr, the fourth largest generic drug company worldwide. Teva the world’s largest generic manufacturer will acquire Barr for $7.5 billion.

As I mentioned yesterday about a possible deal between Teva and Barr, the acquisition is pivotal strategic move for Teva. It provides Teva with a stronger presence in the US generic markets and it elevates Teva as a force to be reckoned with in the biosimilar/follow-on biologics race in Europe and ultimately in America.

I guess when the Israelis say they are going to do something, they do it!

Hat tip to Ed at Pharmalot for the heads up!

Until next time….

Good Luck and Good Job Hunting!!!!!!!!!!!

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