Date: 2016-10-03
Type of information: Company acquisition
Acquired company: Allergan's Anda (Ireland)
Acquiring company: Teva Pharmaceutical Industries (Israel)
Amount: $500 million
Terms: * On October 3, 2016, Teva Pharmaceutical Industries announced that it has completed its acquisition of Anda, a leading distributor of generic pharmaceuticals in the U.S., from Allergan. Teva currently has over 300 product registrations pending FDA approval and holds the leading position in first-to-file opportunities, with over 100 pending first-to-files in the U.S. Currently, one-of-every six generic prescriptions dispensed in the U.S. is filled with a Teva product. * On August 3, 2016, Allergan announced that it has entered into a definitive agreement under which Teva will acquire Allergan's Anda, the 4th largest distributor of generic pharmaceuticals in the U.S, for $500 million .Until the transaction is completed, Allergan will continue to operate Anda in a business-as-usual mode, provide full support to manage the business, introduce new products and maximize its partnerships with customers. Beginning with its second quarter 2016 earnings report, Allergan will report its Anda business as discontinued operations. For the second quarter of 2016, Anda is expected to contribute approximately $375 million in net revenues excluding sales of Allergan's branded products and approximately $0.05 in earnings per share (EPS). For the full year 2016, Anda is expected to contribute approximately $1.5 billion in third-party net revenue and approximately $0.15 in EPS. The closing of this transaction is subject to antitrust clearance and satisfaction of other conditions. The transaction is expected to close in the second half of 2016.
Details: Anda distributes generic, brand, specialty and Over-the-Counter pharmaceutical products from more than 300 manufacturers to retail independent and chain pharmacies, nursing homes, mail order pharmacies, hospitals, clinics and physician offices across the United States . For the full year 2016, Anda is expected to generate more than $1 billion in third-party net revenue.
As part of the deal, Teva will acquire three distribution centers in Olive Branch, MS ; Weston, FL ; and Groveport, OH , with a total of over 650 employees.
Related: Generics Distribution
