The FINANCIAL — Teva Pharmaceutical Industries Ltd. on January 9 announced the completion of the sale of the majority of the assets and operations of Actavis Generics in the UK and Ireland to Accord Healthcare Limited (a subsidiary of Intas Pharmaceuticals Ltd).
The sale, first announced in October last year, has completed for an agreed value of GBP 603 million following approval from the European Commission, according to Teva.
The divestment of specified Actavis Generics assets and operations in the UK and Ireland was part of an undertaking that Teva made to the European Commission in order to obtain approval to proceed with its acquisition of Actavis Generics last year. The sale includes a portfolio of generic medicines plus a manufacturing plant in Barnstaple, England. Within the UK and Ireland Teva retains a number of Actavis non-overlapping generic products plus certain specialty medicines and OTC (over-the-counter) products, which have been added to Teva’s existing businesses.