Last time Teva was in the news here it was related to the news of their collaboration with Proctor and Gamble with creating an over the counter drug and marketing business, to compete generally with a division of Johnson and Johnson. Teva also last week began opening up manufacturing in Irvine, California, a plant that has been closed for quite a while now, so some relief for a few drugs that have been in short supply.
Teva And Procter & Gamble Create Over the Counter Drug Marketing and Distribution Business-Do The Consumer A Favor and Start Bar Coding for Recalls-They Will Happen
Founded in 1987 as a biotech start-up, we have grown into one of the world’s top ten biopharmaceutical companies, with an impressive roster of first-in-class products, a deep and diverse pipeline, and total revenues of $2.81 billion in 2010. And even though we’ve grown to have thousands of employees in locations around the globe, we’ve never lost the agility and nimbleness of a start-up.
Our portfolio of innovative treatments for central nervous system disorders, pain, and cancer include eight proprietary products in the United States, along with more than 100 products internationally. Our research pipeline is focused on developing new compounds and new indications for existing products, while our business collaborations capitalize on new products and smart drug delivery technologies.
In the amount of time I have been doing the blog here it has been interesting to watch and see TEVA grow. They are based in Israel and for the most part have been one of the most aggressive generic drug companies. In addition, they do have a few drugs of their own they have developed in house, so over all they are very diversified. One drug they used to supply to the US was propofol and I don’t see any mention so far of that drug coming back on line for them with manufacturing.
PHILADELPHIA Israel-based Teva Pharmaceuticals Industries Ltd. will acquire Cephalon Inc. of Frazer, Pa., in a $6.8 billion deal, the two companies announced Monday.
In recent weeks, Cephalon has warded off a hostile takeover attempt by Valeant Pharmaceuticals International Inc., which is headquartered in the Toronto suburb of Mississauga, Ontario.
Valeant's offer of $73 per share was trumped by Teva's offer of $81.50 per share for all outstanding shares.
Teva said the combined companies would have about $7 billion in sales. The deal would be made with cash on hand, lines of credit, and through the public debt market, Teva said.