Following the entry into a definitive agreement and plan of merger between teva and cephalon's board, teva has obtained on 14 july 2011 the required support from cephalon's shareholders to acquire 100% of cephalon's outstanding shares. Cephalon (ceph) employees should brace for layoffs, in part because management is already promising some jobs will go and because the impending merger with teva (teva) doesn't solve either company's strategic problems. Teva expects to achieve cost synergies and tax savings of approximately $14 billion annually by the end of 2019, by eliminating duplication and inefficiencies on a global scale and capturing.
After the merger the two companies became one but acqusition is different than merger because in the acqusition the firm which acquiries the other firm stays solid and the other firm becomes a part of the acquirer. On 10/7/2011, the ftc required teva pharmaceutical industries ltd to sell the rights and assets related to a generic cancer pain drug and a generic muscle relaxant, as a condition of its proposed $68 billion acquisition of rival drug firm cephalon, inc. Cephalon's merger with teva is the result of a rigorous process that included a review of a wide-range of strategic options undertaken by cephalon's board of directors and management team to maximize value and deliver significant returns to shareholders, said kevin buchi, chief executive officer of cephalon.
Teva pharmaceutical industries won united states antitrust approval to buy the specialty drug maker cephalon after agreeing to conditions aimed at preserving competition in the market for the sleep disorder medicine provigil and two other drugs.
Merger arb ratings calendar stock split calendar teva pharma (teva) announces completion of actavis generics (agn) acquisition teva expects to achieve cost synergies and tax savings of. Cephalon is known for making nuvigil and provigil, both used in the treatment of narcolepsy teva said in a statement that the two companies would have about $7 billion in combined sales. Before it bought cephalon in 2012, teva was one of the four generic drug makers — along with ranbaxy pharmaceuticals, mylan pharmaceuticals and barr laboratories — paid by cephalon to keep their pills off the market until 2012, according to the ftc complaint filed in 2008.
Teva completes acquisition of cephalon -- combined organization will provide customers with a broad spectrum of specialty branded products in addition to the world's largest generic drug portfolio-- jerusalem, oct 14, 2011 (business wire) -- teva pharmaceutical industries ltd (nasdaq: teva) announced today that it has completed its acquisition of cephalon, inc (nasdaq: ceph.