Israel’s Teva closes in on Allergan’s generics unit for $40-45bn

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Teva Pharmaceutical, the Israeli drugmaker, is nearing a deal to acquire Allergan’s generics drug unit for between $40bn and $45bn, said people familiar with the matter.

A deal, which one person said could be announced within days, would be the latest blockbuster agreement in the pharma sector.

Until recently, Teva had been entirely focused on its attempt to acquire rival generic drugmaker Mylan. Earlier this month, Teva was preparing to increase its offer to buy Mylan to $43bn in what would have been the latest move in a fiercely contested hostile takeover campaign, people familiar with the matter previously told the FT.

If a deal is clinched with Botox-maker Allergan, it is unlikely to pursue Mylan any further, said one person familiar with the company’s thinking.

Teva has built a 4.6 per cent stake in Mylan over the past months. But this week an independent foundation, which…

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