Teva to acquire Anda from Allergan for $500 million

Hot on the heels of completing its $40.5 billion buy of the Allergan Generics business, Israeli generics behemoth Teva Pharmaceutical Industries (NYSE: TEVA) has entered into a definitive agreement to purchase Allergan’s (NYSE: AGN) Anda subsidiary, the fourth largest distributor of generic pharmaceuticals in the USA for $500 million.

“Anda is a natural fit into our business in general and our extensive supply chain network in particular,” stated Siggi Olafsson, president and chief executive of Global Generic Medicines at Teva, adding: “We believe Anda is truly a unique company which further enhances the offerings that Teva can provide. This strategic move enables us and our customers to improve capabilities and flexibility given the changes the pharmaceutical industry is currently undergoing, in order to provide access to more patients throughout the country. Additionally, both Teva and Anda’s customers will benefit from our ability as the largest producer of medicines in the world to leverage our size and scale."

Brent Saunders, CEO and president, Allergan. "For Allergan, this divestiture continues our evolution as a focused branded Growth Pharma leader, powered by growing leadership positions across our seven therapeutic areas, developing and bringing to market innovative therapies from our industry leading pipeline, simplified operating structure and adding new development programs through our Open Science R&D model."