Teva in Talks to Sell Part of Cephalon Unit
BRIEF: Teva in Talks to Sell Part of Cephalon Unit [Globes, Tel Aviv, Israel]
From Globes (Tel Aviv) (December 19, 2011)
Dec. 19--Teva has entered into negotiations with Swiss pharmaceutical company Acino Pharma Ltd to sell part of Cephalon unit Mepha AG's activity. Teva acquired Cephalon on October 14 for $8 billion. Acino will acquire the Latin American and Asian businesses of Mepha, as well as the R&D facility in Aesch, Switzerland.
The factory in Switzerland includes a production facility that operates with US Food and Drug Administration (FDA) approval, office space, and an R&D department that develops oral medications. Under the agreement, Mepha will transfer a portion of its generic drug development activity to Acino. Production and R&D employees will be given the opportunity to continue working for Acino following the acquisition.
Earlier this year, Acino agreed to buy Mepha's Middle East and Africa divisions. The price for the activity in Latin America, Asia, Middle East, and Africa, together with the R&D center in Switzerland, is ?¬94 million.
(c)2011 the Globes (Tel Aviv, Israel)
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Posted: December 2011