Allergan to sell generics unit to Israel’s Teva

Allergan to sell generics unit to Israel’s Teva

Allergan to sell generics unit to Israel’s Teva Drug firm Allergan is to sell its generics unit to Teva Pharmaceutical Industries in a deal worth $40.5 billion. The Israeli firm is the world’s largest maker of generic drugs and Allergan’s business is said to be a better fit for the firm that that of Mylan, which had been a target. Reuters says that Teva has now ended its pursuit of Mylan.