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April 24, 2015.
Teva Pharmaceutical Industries’ recent $40.1 billion offer to purchase Netherlands-based Mylan, contingent on Mylan not consummating its offer to acquire Irish firm Perrigo, has the potential to transform the generic drugs arena, according to a research and consulting firm GlobalData.
Teva believes its proposal is a more attractive approach to Mylan’s non-binding offer for Perrigo and is adamant that a combination with Mylan would transform the generics space, instilling a differentiated business model that fully integrates specialty and generic drugs with products, devices, services and technologies.
Gianfranco Zeppetelli, GlobalData’s Deals Analyst, says: “If the deal goes ahead, the combined company would create a global generics giant with nearly $30 billion in revenue, and boasting a pipeline of more than 400 pending generic drug applications at the FDA.
“Teva also noted that there would be opportunities for substantial cost synergies and tax savings, which are estimated to be approximately $2 billion annually.”