Teva and IVAX receive EC approval for acquisition
Teva Pharmaceutical Industries of Israel has received unconditional approval from the European Commission (EC) to proceed with its acquisition of the US-based branded and generic human and veterinary drugs manufactturer IVAX.
Teva Pharmaceutical Industries of Israel has received unconditional approval from the European Commission (EC) to proceed with its acquisition of the US-based branded and generic human and veterinary drugs manufactturer IVAX.
This European approval completes the non-US regulatory review process that was required. Teva and IVAX are working closely with the US Federal Trade Commission to enable it to complete its review processes. The companies expect the transaction will close in late 2005 or early 2006.
Teva is one of the largest generic pharmaceutical manufacturers, it also produces innovative human pharmaceuticals and active pharmaceutical ingredients. IVAX, headquartered in Miami, Florida, discovers, develops, manufactures and markets branded and generic pharmaceuticals and veterinary products in the US and internationally.