Teva, Cephalon Win EU Antitrust OK For $6.8B Tie-Up

Law360, New York (October 14, 2011, 6:57 PM EDT) -- The European Commission announced Friday that it had conditionally signed off on Teva Pharmaceutical Industries Ltd.’s $6.8 billion acquisition of Cephalon Inc., after Cephalon agreed to sell its rights to market a generic version of its narcolepsy drug Provigil.

The EU antitrust watchdog said that the merger, conditioned on Cephalon divesting its right to market a generic Provigil in France, would not threaten competition in European markets. Teva said the regulator’s approval was the final step it needed to complete its takeover of Cephalon on Friday....
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