`
`Teva Pharm finalizing asset sales to clear Allergan deal: source | Reuters
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`Business |Thu May 5. 2016 4:19pm EDT
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`Related: DEALS
`
`Teva Pharm finalizing asset sales to clear Allergan
`deal: source
`BY CARL O'DONNELL
`
`
`
`Teva Pharmaceutical Industries’ Jerusalem oral solid dosage p|ant(OSD) is seen December 21 , 2011
`REUTERS/RONEN ZVULUN
`
`Teva Pharmaceutical Industries Ltd is finalizing as much as $2 billion in asset sale
`
`agreements to win U.S. antitrust clearance for its $40.5 billion acquisition of Allergan Plc's
`generic drug portfolio, according to a source familiar with the matter.
`
`The divestments would boost efforts by Teva, the Israeli pharmaceutical company, to close
`
`the deal with Allergan, which is domiciled in Ireland. Teva said in March that a regulatory
`
`review of the deal by the U.S. Federal Trade Commission was taking longer than
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`anticipated, and that it expected the transaction to be completed by June.
`
`Teva has found buyers for nearly all of the assets it expects to divest, which could be worth
`
`as much as $2 billion in total, the source said on Thursday. They include around 50 drugs
`already on the market and 25 in development that treat illnesses ranging from cancer to
`
`respiratory disease and central nervous system disorders, the source said.
`
`Teva is still on track to close the deal next month, the source added, asking not to be
`identified because the latest developments are not public. Teva declined to comment,
`
`Allergan did not immediately respond to requests for comment.
`
`Finalizing a divestiture plan does not guarantee approval from the FTC, which can
`
`sometimes surprise companies by making demands for additional asset sales or proclaim
`
`that a transaction is anti-competitive. Teva's deal with Allergan has been cleared by
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`European antitrust regulators.
`I
`
`MOIIOSOIZOO8-0001
`htlp://www.reuters.com/article/us-allergan-m-a-teva-pharm-ind-assets-idUSKCNOXW277
`
`Dr. Reddy's V. MonoSo1
`IPR2016-01112
`
`1/2
`
`
`
`B/7/2016
`
`Teva Pharm finalizing asset sales to clear Allergan deal: source | Reuters
`
`In July, Teva agreed to buy the generics portfolio of Allergan, solidfying Teva's position as
`
`the world's largest generic manufacturer. For Allergan, the transaction will help focus its
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`business on brand-name drugs and provide a massive war chest for future acquisitions.
`
`Allergan had subsequently agreed to a $160 billion takeover by larger player Pfizer Inc, but
`the deal was derailed last month by the U.S. Treasury which introduced rules that
`eliminated tax benefits central to the transaction.
`
`Investors and industry analysts expect Allergan will look for new acquisition targets once
`
`the sale to Teva is completed.
`
`Teva is still in the process of finding buyers for one set of assets, a bundle of drugs in
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`various stages of development worth about $500 million, but expects to agree to a deal as
`soon as next week, the source said. The source would not provide details on the buyers.
`
`(Reporting by Carl O'Donnell; Editing by David Gregorio)
`
`http://www.ranhgsggg/§‘?c%§12-glfigg-)9%-twapiriarrn-ind-assets-idUSKCNOXW277
`
`2/2
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