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news.Israeli generic drug developer Teva Pharmaceutical has acquired 100% outstanding shares of Japan-based generic drug manufacturer Taiyo Pharmaceutical for around $934m in cash.
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With this acquisition, Teva will own around 550 products of Taiyo including all its local regulatory expertise and production facility in Japan.
The acquisition also allows Teva to get access to Taiyo’s R&D team.
Teva president and CEO Shlomo Yanai said this is an important milestone in executing Teva’s long term strategic plan.
Teva’s branded businesses caters to neurological, respiratory and women’s health therapeutic areas as well as biologics.