Teva sells products to Sagent Pharma to fulfil Allergan Generics deal conditions
US specialty drugmaker Sagent Pharmaceuticals (Nasdaq: SGNT) has agreed to buy five products being developed by Israeli generics giant Teva Pharmaceutical Industries (NYSE: TEVA).
It is the latest attempt by Teva to comply with the conditions of its $40.5 billion purchase of the generics business of Ireland-incorporated Allergan (NYSE: AGN), which state that it must offload certain assets to avoid the merged entity facing insufficient competition from the remaining players.
Sagent, a provider of affordable pharmaceuticals to the hospital market, has entered into an agreement with Teva and generic drug major Actavis, an Allergan company, to acquire a portfolio of five Abbreviated New Drug Applications (ANDAs) in the USA for $40 million.
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