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Teva to sell UK and Ireland Actavis assets in £603m deal

Staff Writer |
Teva will sell assets and operations of Actavis Generics in the UK and Ireland to Accord Healthcare, a subsidiary of Intas Pharmaceuticals, for £603 million, subject to final approval from the European Commission.

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The divestment of certain specified Actavis Generics assets and operations in the UK and Ireland was part of an undertaking that Teva made to the European Commission in the context of the review of the acquisition of Actavis Generics by Teva earlier this year.

The sale will include a portfolio of generic medicines plus a manufacturing plant in Barnstaple, England. 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 operations.

The transaction is expected to close in the next three months.

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