Date: 2011-09-26
Type of information: Company acquisition
Acquired company: Teva-Kowa Pharma Co (Japan)
Acquiring company: Teva Pharmaceuticals (Israel)
Amount: $150 million (€ 110.8 million)
Terms: Teva Pharmaceutical Industries Ltd. will acquire the 50% interest formerly held by Kowa Company Ltd. in Teva's Japanese joint venture for a total purchase price of $150 million. With this acquisition, Teva will own 100% of the former joint venture, which will immediately begin to do business as an important and wholly-owned member of the Teva Group. Teva and Kowa announced the establishment of Teva-Kowa Pharma Co., Ltd. in September 2008, and have since grown the joint venture into one of the top 5 generic players in Japan, in cooperation with Kowa. The joint venture generated sales of approximately $200 million in 2010.
On July 14, 2011, Teva Pharmaceutical Industries Ltd. has completed the acquisition of effectively 100% of the outstanding shares of Taiyo Pharmaceutical Industry Co. Ltd. With this latest transaction, Teva's operations in Japan are expected to generate annual sales in excess of $800 million.
Details:
Related: Generic
