Teva Agrees To Sell Assets In $8.9B Merger With Barr

Law360, New York (December 29, 2008, 12:00 AM EST) -- Teva Pharmaceutical Industries Ltd. has completed its $8.9 billion acquisition of rival Barr Pharmaceuticals Inc. after agreeing to sell competing products in 29 U.S. and 17 European markets for generic drugs.

Israel-based Teva announced Dec. 23 it had closed the deal, a few days after the U.S. Federal Trade Commission said the companies would need to divest certain formulations of 16 overlapping generic drugs already on the market and another 13 in development.

The divestitures represent about $60 million in annual sales and include treatments for...
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