Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) sold parts of its Cephalon unit, Mepha AG to Switzerland's Acino Pharma Ltd. for Teva acquired Cephalon on October 14 for $8 billion. Acino acquired the Latin American and Asian businesses of Mepha, as well as its R&D facility in Aesch, Switzerland, after earlier buying Mepha's Middle East and African operations. The price for all the operations acquired is €94 million.
The factory in Switzerland includes a production facility that operates with US Food and Drug Administration (FDA) approval, office space, and an R&D department that develops oral medications. Mepha will transfer a portion of its generic drug development activity to Acino. Production and R&D employees will be given the opportunity to continue working for Acino following the acquisition.
Teva's share price fell 0.1% at the opening on the TASE today to NIS 162.60, after falling 2.4% on Nasdaq yesterday to $41.71, giving a market cap of $36.9 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on December 20, 2011
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