Teva now plans to close the transaction in the near future.
Generic pharmaceuticals giant Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA)said today that the European Commission has approved Teva's acquisition of German pharmaceuticals company Ratiopharm. Teva said it was granted approval to proceed.
Teva now plans to close the transaction in the near future.
Over the weekend, Teva reported that Canadian regulators approved the deal. Both companies have operations there. Ratiopharm says it has over 400 employees in Canada.
Shares in Teva closed yesterday at $50.18, giving a market cap of $45.06 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on August 4, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010
Globes' correspondent and Michal Yoshai