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Teva sees close of $40.5 billion Allergan generics deal by June

Staff writer |
Teva Pharmaceutical Industries now expects its $40.5 billion acquisition of the generic drug activities of Allergan to be completed by June.

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Teva previously expected the deal would close by the end of the first quarter with the potential for it to be slightly delayed into April.

While significant progress has been made, "Teva now anticipates that completing the acquisition could take as long as June 2016, based upon its current estimate of the timing to obtain clearance from the United States Federal Trade Commission," it said in a statement.

Teva said it continues to work closely with the FTC to obtain U.S. regulatory approval. Last week it received regulatory approval from the European Commission for its acquisition, subject to certain divestitures.

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