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NEW YORK — The Federal Trade Commission has given its approval to two major pharma acquisitions: Teva Pharmaceutical Industries Ltd.’s $40 billion deal to buy Allergan plc’s generics business and Mylan N.V.’s $9.9 billion deal to acquire Meda AB.
Teva said that with the FTC’s acceptance of the proposed consent order, the company has satisfied the regulatory requirements under the purchase agreement and can complete the acquisition of Actavis Generics, Allergan’s generics unit.
With the deal, announced last July, Teva and Actavis Generics will have a commercial presence in 100 markets, including a top-three leadership position in more than 40 markets.
“We are pleased to have received all of the requisite regulatory approvals for our acquisition of Actavis Generics,” stated Erez Vigodman, president and CEO of Teva. “This acquisition is a transformative step for Teva, as we continue to claim a differentiated space in the global pharmaceutical industry. The generics industry is one of the most attractive industries in the world in terms of growth rates, profitability, return to investors and contribution to health care systems and societies.”
Mylan said late Wednesday that the FTC has cleared its transaction to acquire Meda, subject to the divestiture of certain products, after the completion of its public offer to the shareholders of Meda to tender all their shares to Mylan. The acceptance period for the offer runs to July 29, and Mylan can extend the acceptance period.
Mylan unveiled its agreement to acquire Sweden-based Meda in February. Executives from both companies noted at the time that a Mylan-Meda combination would create a pharmaceutical leader with a strong portfolio of branded and generic drugs and over-the-counter medicines, along with a balanced global footprint with significant scale in key geographic markets, particularly the United States and Europe.
