Teva completes £603 million sale of UK and Ireland Actavis assets
The sale, first announced in October last year, has completed for an agreed value of £603 million following approval from the European Commission.
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. ■