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news.Indian drugmaker Intas Pharmaceuticals has agreed to acquire Actavis Generics’ assets and operations in the UK and Ireland from Teva Pharmaceutical Industries for about £603m.
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Teva said the divestment of the assets and operations was part of an undertaking that it made to the European Commission related to the acquisition of Actavis Generics from Allergan.
The $40.5bn acquisition of Allergan’s generics business was completed in August this year.
The acquisition, which represents the biggest Indian investment in the UK after the Brexit vote, will see Intas expand its manufacturing base in the UK.
It will also double the pharmaceutical company’s pan-European operations and increase its access to retail and hospital markets in the UK and Ireland.
The deal will include several generic medicines and a manufacturing facility in Barnstaple,
Teva retains a number of Actavis non-overlapping generic products ans several specialty medicines and over-the-counter products, which have been added to its existing operations.
The companies anticipate the transaction to close in the next three months.
Intas vice chairman and managing director Binish Chudgar said: “Through our subsidiary, Accord Healthcare, we have been operating successfully in Europe for more than a decade and this acquisition will make Accord the leading generics player in the UK market.”
Teva president & CEO of global generic medicines Siggi Olafsson said: “The sale has been a success for Teva in that we have satisfied the EU Commission’s sale requirements for these businesses, subject to their final approval, and agreed on a good price for the assets.
“With the assets that it will retain, Teva will create an even stronger operation in the
Image: Intas Pharmez Facility. Photo: courtesy of Intas Pharmaceuticals Ltd.