Teva offloads two more ANDAs to satisfy Allergan Generics deal

India’s Zydus Cadila has added to its US portfolio by buying two new Abbreviated New Drug Applications (ANDAs) from Israeli generics giant Teva Pharmaceutical Industries (NYSE: TEVA) in an undisclosed transaction.

These are being divested by Teva as a pre-condition of its $40.5 billion purchase of the generics business of Ireland-incorporated Allergan (NYSE: AGN). Conditions state that the company must offload certain assets to avoid the merged entity breaching competition requirements.

Zydus Worldwide DMCC, a wholly-owned subsidiary of the Ahmedabad-based company, has bought the ANDAs in a transaction to be financed through the group's internal accruals.