FTC Review Ongoing As Teva/Allergan Await Final Approval
Analysts had been expecting Teva's acquisition of Allergan's generics business to close at the end of June; Teva insists the acquisition is still going to plan.
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Asset divestments continue in the lead up to Teva's acquisition of Allergan's generics business.
Teva reported a drop in first quarter revenues that was smaller than expected on better sales from its specialty business. CEO Erez Vigodman claims the deal to acquire Allergan's generics business is on track to close in June and will transform Teva into an "even stronger company."
The European Commission has approved the proposed $40.5bn acquisition of the generics business of Allergan (the company formerly known as Actavis) by Teva, subject to a number of significant conditions, including the divestment of the majority of Allergan Generics' business in the UK and Ireland.