Teva completes acquisition of Japanese generics company
JERUSALEM — Teva Pharmaceutical Industries has completed its acquisition of Japan’s third-largest generics company, Teva said.
The Israeli drug maker, the world’s largest maker of generic drugs, announced that it had acquired effectively all the outstanding shares of Taiyo Pharmaceutical Industry Co. for $934 million.
“This is an important milestone in executing Teva’s long-term strategic plan,” Teva president and CEO Shlomo Yanai said in a statement. “The acquisitio of Taiyo, along with Teva’s existing Japanese business, assures that Teva will deliver on our strategic objective of becoming a leading player in Japan.”
Taiyo had sales of about $530 million in 2010, and its acquisition adds more than 550 products to Teva’s portfolio, as well as Taiyo’s research and development team, local regulatory expertise and a factory. Teva said it expected its sales in Japan to reach $1 billion after the purchase.
Valeant Pharmaceuticals purchases Johnson & Johnson dermatology subsidiary
MISSISSAUGA, Ontario — Valeant Pharmaceuticals has purchased a dermatology subsidiary from Johnson & Johnson, the Canadian drug maker said Friday.
The $345 million acquisition of the Ortho Dermatologics division of J&J subsidiary Janssen Pharmaceuticals follows Valeant’s $425 million purchase of Dermik, the skin care business of French drug maker Sanofi. Ortho Dermatologics’ portfolio includes the drugs Retin-A Micro, Ertaczo and Renova, which collectively had sales of about $150 million in 2010.
“With the combination of this transaction and other recently announced transactions, Valeant is well on its way to being one of the leading companies in dermatology,” Valeant chairman and CEO J. Michael Pearson said in a statement. “We believe that dermatology remains an attractive therapeutic area for Valeant, and we are pleased to be able to add another strong franchise to our growing operations.”
Teva gets approval to buy Cephalon
FRAZER, Pa. — Teva Pharmaceutical Industries got the go-ahead from Cephalon’s shareholders to acquire the Frazer, Pa.-based company in a deal worth $6.8 billion.
Teva came out as the front-runner to purchase Cephalon in May, when the drug maker spurned a takeover bid by Mississauga, Ontario-based Valeant Pharmaceuticals, which had offered $5.7 billion in March.
Teva said at the time that the buyout would create a robust pipeline that includes more than 30 drugs in late-stage clinical trials, enhancing Teva’s branded drug portfolio with treatments for cancer, respiratory diseases, pain management and central nervous system disorders.