Teva buys Anda for $500M
Teva Pharmaceutical Industries Ltd. said Wednesday that it is buying Allergan's generic pharmaceuticals distribution business, Anda Inc., for $500 million.
Teva Pharmaceutical Industries Ltd. said Wednesday that it is buying Allergan's generic pharmaceuticals distribution business, Anda Inc., for $500 million.
The announcement came a day after Teva on Tuesdaycompleted its acquisition of Allergan's generic division for $33.4 billion in cash and $5.4 billion in Teva stock.
Anda, a large distributor of generic pharmaceuticals in the United States, delivers generic, brand, specialty, and over-the-counter pharmaceutical products from more than 300 manufacturers to retail pharmacies, nursing homes, mail order pharmacies, hospitals, clinics, and physician offices.
The three largest U.S. pharmaceuticals distributors are AmerisourceBergen in Valley Forge, Cardinal Health in Dublin, Oh., and McKesson Corp. in San Francisco.
Under the deal, Teva will acquire three distribution centers in Olive Branch, Ms., Weston, Fl., and Groveport, Oh, with a total of over 650 employees. The transaction is expected to close this year.
Based in Israel, Teva's North America headquarters is in North Wales, Montgomery County. Teva employs more than 2,000 in the Philadelphia area.
Teva shareswere up 1.59 percent, or 84 cents, to $53.80 in morning trading. Allergan shares were up 1.50 percent, or $3.77, to $254.52.
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