The Traderszone Network

Published in TZ Latest News 21 April, 2015 by The TZ Newswire Staff

Generic drugmaker Teva makes $40 billion offer for rival Mylan

TEL AVIV/NEW YORK (Reuters) – Teva Pharmaceutical Industries Ltd on Tuesday made an unsolicited $40 billion offer for smaller rival Mylan NV, a bold bid for growth as its lucrative Copaxone drug faces generic competition. The offer followed weeks of speculation that Israel-based Teva, the world’s largest generic drugmaker, would soon target Mylan. Shares of Mylan traded below the offer price of $82 in cash and stock, evidence of investor skepticism that Teva can win over the company, which has set up a defense that includes a poison pill.

read more