Teva acquires Bentley Pharmaceuticals

At closing, Bentley consisted solely of its generic pharmaceutical operations, following the spin-off of its drug delivery business to its stockholders on June 30, 2008. The aggregate purchase price paid by Teva was approximately $360 million in cash, or approximately $14.82 per Bentley share.

This acquisition is expected to provide Teva with a platform to capture a leading position in the Spanish generics market. As previously announced, Teva expects that the acquisition will become accretive within 12 months of closing.

Teva, through the combination of its existing operations in Spain and Bentley’s operations, will offer the Spanish market over 170 products and will have over 45 products pending generic product registrations.