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April 04, 2002 4:12 p.m.
Teva Announces Agreement to Acquire Bayer France Generic Operations

Jerusalem, Israel, April 4, 2002 - Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) announced today, further to the release dated February 5, 2002, that it has reached an agreement with Bayer Pharma S.A. to acquire Bayer Classics S.A., its French generic pharmaceutical marketing company and related manufacturing facility for a purchase price of 97 million. Bayer Classics S.A. is the third largest supplier of generic pharmaceuticals to the French retail market. The transaction is expected to be completed during the second quarter of 2002.

Israel Makov, Teva's Chief Operating Officer, stated, "This acquisition will enable Teva to become a major player in the fast growing emerging generic pharmaceutical market in France further enhancing our leading position in Europe."

Teva, through the combination of its existing operations in France and the operations of Bayer Classics S.A. will offer the French market 72 generic products (in 153 presentations) and will have 49 products in the pipeline of pending generic product registrations. For the last six months ending March 31, 2002, Bayer Classics had revenues exceeding 26 million.

Teva Pharmaceutical Industries Ltd., headquartered in Israel, is among the top 40 pharmaceutical companies and among the largest generic pharmaceutical companies in the world. Over 80% of Teva's sales are in North America and Europe. The Company develops, manufactures and markets generic and innovative human pharmaceuticals and active pharmaceutical ingredients.

Safe Harbor Statement under the U. S. Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which express the current beliefs and expectations of management. Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause Teva's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include Teva's ability to successfully develop and commercialize additional pharmaceutical products, the introduction of competitive generic products, the impact of competition from brand-name companies that sell their own generic products or successfully extend the exclusivity period of their branded products, Teva's ability to rapidly integrate the operations of acquired businesses, the availability of product liability coverage in the current insurance market, the impact of pharmaceutical industry regulation and pending legislation that could affect the pharmaceutical industry, the difficulty of predicting U.S. Food and Drug Administration ("FDA") and other regulatory authority approvals, the regulatory environment and changes in the health policies and structure of various countries, acceptance and demand for new pharmaceutical products and new therapies, uncertainties regarding market acceptance of innovative products newly launched, currently being sold or in development, the impact of restructuring of clients, reliance on strategic alliances, exposure to product liability claims, dependence on patent and other protections for innovative products, fluctuations in currency, exchange and interest rates, operating results and other factors that are discussed in Teva's Annual Report on Form 20-F and its other filings with the U.S. Securities and Exchange Commission ("SEC"). Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.