JERUSALEM--(BUSINESS WIRE)--Jan. 9, 2017--
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today
announced the completion of the sale of the majority of the assets and
operations of Actavis Generics in the UK and Ireland to Accord
Healthcare Limited (a subsidiary of Intas Pharmaceuticals Ltd). The
sale, first announced in October last year, has completed for an agreed
value of GBP 603 million following approval from the European Commission.
The divestment of specified Actavis Generics assets and operations in
the UK and Ireland was part of an undertaking that Teva made to the
European Commission in order to obtain approval to proceed with its
acquisition of Actavis Generics last year. The sale includes a portfolio
of generic medicines plus a manufacturing plant in Barnstaple, England.
Within the UK and Ireland 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 businesses.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a leading
global pharmaceutical company that delivers high-quality,
patient-centric healthcare solutions used by millions of patients every
day. Headquartered in Israel, Teva is the world’s largest generic
medicines producer, leveraging its portfolio of more than 1,800
molecules to produce a wide range of generic products in nearly every
therapeutic area. In specialty medicines, Teva has a world-leading
position in innovative treatments for disorders of the central nervous
system, including pain, as well as a strong portfolio of respiratory
products. Teva integrates its generics and specialty capabilities in its
global research and development division to create new ways of
addressing unmet patient needs by combining drug development
capabilities with devices, services and technologies. Teva's net
revenues in 2015 were $19.7 billion. For more information, visit www.tevapharm.com.
Teva's Safe Harbor Statement under the U. S. Private Securities
Litigation Reform Act of 1995:
This release contains forward-looking statements, which are based on
management’s current beliefs and expectations and involve a number of
known and unknown risks and uncertainties that could cause our 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 risks relating to: our ability to
develop and commercialize additional pharmaceutical products;
competition for our specialty products, especially Copaxone® (which
faces competition from orally-administered alternatives and a generic
version); our ability to realize the anticipated benefits of the
acquisition of Allergan plc’s worldwide generic pharmaceuticals business
(“Actavis Generics”), and the timing of realizing such benefits; our
ability to fully and efficiently integrate Actavis Generics and to
achieve the anticipated cost savings, synergies, business opportunities
and growth prospects from the combination; the fact that we are now
dependent to a much larger extent than previously on our generic
pharmaceutical business; our ability to develop and launch new generic
products from the Actavis Generics pipeline on the anticipated
timelines; potential restrictions on our ability to engage in additional
transactions or incur additional indebtedness as a result of the
substantial amount of debt we have incurred to finance the Actavis
Generics acquisition; the fact that we will have significantly less cash
on hand than prior to the consummation of the Actavis Generics
acquisition, which could adversely affect our ability to grow; our
ability to achieve expected results from investments in our pipeline of
specialty and other products; our ability to identify and successfully
bid for suitable acquisition targets or licensing opportunities, or to
consummate and integrate acquisitions; the extent to which any
manufacturing or quality control problems damage our reputation for
quality production and require costly remediation; increased government
scrutiny in both the U.S. and Europe of our patent settlement
agreements; our exposure to currency fluctuations and restrictions as
well as credit risks; the effectiveness of our patents, confidentiality
agreements and other measures to protect the intellectual property
rights of our specialty medicines; the effects of reforms in healthcare
regulation and pharmaceutical pricing, reimbursement and coverage;
competition for our generic products, both from other pharmaceutical
companies and as a result of increased governmental pricing pressures;
governmental investigations into sales and marketing practices,
particularly for our specialty pharmaceutical products; adverse effects
of political or economic instability, major hostilities or acts of
terrorism on our significant worldwide operations; interruptions in our
supply chain or problems with internal or third-party information
technology systems that adversely affect our complex manufacturing
processes; significant disruptions of our information technology systems
or breaches of our data security; competition for our specialty
pharmaceutical businesses from companies with greater resources and
capabilities; the impact of continuing consolidation of our distributors
and customers; decreased opportunities to obtain U.S. market exclusivity
for significant new generic products; potential liability in the U.S.,
Europe and other markets for sales of generic products prior to a final
resolution of outstanding patent litigation; our potential exposure to
product liability claims that are not covered by insurance; any failure
to recruit or retain key personnel, including, in particular, former
Actavis Generics personnel who have transitioned to Teva or to attract
additional executive and managerial talent; any failures to comply with
complex Medicare and Medicaid reporting and payment obligations;
significant impairment charges relating to intangible assets, goodwill
and property, plant and equipment; the effects of increased leverage and
our resulting reliance on access to the capital markets; potentially
significant increases in tax liabilities; the effect on our overall
effective tax rate of the termination or expiration of governmental
programs or tax benefits, or of a change in our business; variations in
patent laws that may adversely affect our ability to manufacture our
products in the most efficient manner; environmental risks; the
possibility of additional adverse consequences arising from our recent
FCPA-related settlement with the U.S. government, including limitations
on our conduct of business in various countries, adverse judgments in
shareholder lawsuits and fines, penalties or other sanctions imposed by
government authorities in other countries; and other factors that are
discussed in our Annual Report on Form 20-F for the year ended December
31, 2015 and in our other filings with the U.S. Securities and Exchange
Commission (the SEC). Forward-looking statements speak only as of the
date on which they are made and we assume no obligation to update or
revise any forward-looking statements or other information, whether as a
result of new information, future events or otherwise.
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Source: Teva Pharmaceutical Industries Ltd.
Teva Pharmaceuticals Industries Ltd.
IR:
United States
Kevin
C. Mannix, 215-591-8912
or
United States
Ran Meir,
215-591-3033
or
Israel
Tomer Amitai, 972 (3)
926-7656
or
PR:
Israel
Iris Beck Codner, 972
(3) 926-7246
or
United States
Denise Bradley,
215-591-8974