Teva-Ivax Merger Puts Spotlight On Authorized Generics
By Marius Meland
Law360, New York (July 28, 2005, 12:00 AM EDT) -- Teva Pharmaceutical Industries Ltd.’s $7.4 billion purchase of Ivax Corp. will once again propel the Israeli drug maker past Novartis as a leader in the $58-billion worldwide market for generic drugs. But the deal will force Teva to take a stand on the controversial practice of “authorized generics,” analysts say.
The merger gives Teva, which sells generic versions of AstraZeneca Plc's Prilosec ulcer drug and Purdue Pharma LP's Oxycontin painkiller, Ivax's rights to generic versions of Pfizer Inc.'s Zoloft antidepressant and GlaxoSmithKline Plc's Zofran for nausea....