Teva Announces Acquisition of Anda Inc.
03 Août 2016 - 1:00PM
Business Wire
Acquisition is a great strategic fit that
will enable Teva and Anda to provide enhanced offerings to
customers
Teva Pharmaceutical Industries Ltd., (NYSE and TASE: TEVA) today
announced that it has entered into a definitive agreement to
purchase Allergan’s Anda Inc., the 4th largest distributor of
generic pharmaceuticals in the U.S. for $500 million.
“Anda is a natural fit into our business in general and our
extensive supply chain network in particular,” stated Siggi
Olafsson, President & CEO of Global Generic Medicines. “We
believe Anda is truly a unique company which further enhances the
offerings that Teva can provide. This strategic move enables us and
our customers to improve capabilities and flexibility given the
changes the pharmaceutical industry is currently undergoing, in
order to provide access to more patients throughout the country.
Additionally, both Teva and Anda’s customers will benefit from our
ability as the largest producer of medicines in the world to
leverage our size and scale."
“Joining Teva opens a new world of possibilities for Anda,
especially as the appropriate utilization of generic medicines
remains the most effective means by which to ensure broad patient
access,” stated Charles D. Phillips, President & CEO of Anda.
“We look forward to the opportunity to utilize the Teva network to
the advantage of our customers and patients across the
country.”
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.
Olafsson continued, “Anda will continue to operate as a
stand-alone business and report directly to me. The addition of
Anda and their ability to service over half of their 60,000
customers within 24 hours, combined with our existing offerings,
will allow us to provide even better service to our customers.”
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.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a
leading global pharmaceutical company that delivers high-quality,
patient-centric healthcare solutions used by millions of patients
every day. Headquartered in Israel, Teva is the world’s largest
generic medicines producer, leveraging its portfolio of more than
1,800 molecules to produce a wide range of generic products in
nearly every therapeutic area. In specialty medicines, Teva has a
world-leading position in innovative treatments for disorders of
the central nervous system, including pain, as well as a strong
portfolio of respiratory products. Teva integrates its generics and
specialty capabilities in its global research and development
division to create new ways of addressing unmet patient needs by
combining drug development capabilities with devices, services and
technologies. Teva's net revenues in 2015 amounted to $19.7
billion. For more information, visit www.tevapharm.com.
Teva's Safe Harbor Statement under the U. S. Private
Securities Litigation Reform Act of 1995:
This release contains forward-looking statements, which are
based on management’s current beliefs and expectations and involve
a number of known and unknown risks and uncertainties that could
cause our future results, performance or achievements to differ
significantly from the results, performance or achievements
expressed or implied by such forward-looking statements. Important
factors that could cause or contribute to such differences include
risks relating to: our ability to develop and commercialize
additional pharmaceutical products; competition for our specialty
products, especially Copaxone® (which faces competition from
orally-administered alternatives and a generic version); our
ability to integrate the acquisition of Allergan plc’s worldwide
generic pharmaceuticals business (“Actavis Generics”) and to
realize the anticipated benefits of such acquisition (and the
timing of realizing such benefits); the fact that following the
consummation of the Actavis Generics acquisition, we are dependent
to a much larger extent than previously on our generic
pharmaceutical business; potential restrictions on our ability to
engage in additional transactions or incur additional indebtedness
as a result of the substantial amount of debt we incurred to
finance the Actavis Generics acquisition; the fact that for a
period of time following the consummation of the Actavis Generics
acquisition, we will have significantly less cash on hand than
previously, which could adversely affect our ability to grow; the
possibility of material fines, penalties and other sanctions and
other adverse consequences arising out of our ongoing FCPA
investigations and related matters; our ability to achieve expected
results from investments in our pipeline of specialty and other
products; our ability to identify and successfully bid for suitable
acquisition targets or licensing opportunities, or to consummate
and integrate acquisitions; the extent to which any manufacturing
or quality control problems damage our reputation for quality
production and require costly remediation; increased government
scrutiny in both the U.S. and Europe of our patent settlement
agreements; our exposure to currency fluctuations and restrictions
as well as credit risks; the effectiveness of our patents,
confidentiality agreements and other measures to protect the
intellectual property rights of our specialty medicines; the
effects of reforms in healthcare regulation and pharmaceutical
pricing, reimbursement and coverage; competition for our generic
products, both from other pharmaceutical companies and as a result
of increased governmental pricing pressures; governmental
investigations into sales and marketing practices, particularly for
our specialty pharmaceutical products; adverse effects of political
or economic instability, major hostilities or acts of terrorism on
our significant worldwide operations; interruptions in our supply
chain or problems with internal or third-party information
technology systems that adversely affect our complex manufacturing
processes; significant disruptions of our information technology
systems or breaches of our data security; competition for our
specialty pharmaceutical businesses from companies with greater
resources and capabilities; the impact of continuing consolidation
of our distributors and customers; decreased opportunities to
obtain U.S. market exclusivity for significant new generic
products; potential liability in the U.S., Europe and other markets
for sales of generic products prior to a final resolution of
outstanding patent litigation; our potential exposure to product
liability claims that are not covered by insurance; any failure to
recruit or retain key personnel, or to attract additional executive
and managerial talent; any failures to comply with complex Medicare
and Medicaid reporting and payment obligations; significant
impairment charges relating to intangible assets, goodwill and
property, plant and equipment; the effects of increased leverage
and our resulting reliance on access to the capital markets;
potentially significant increases in tax liabilities; the effect on
our overall effective tax rate of the termination or expiration of
governmental programs or tax benefits, or of a change in our
business; variations in patent laws that may adversely affect our
ability to manufacture our products in the most efficient manner;
environmental risks; and other factors that are discussed in our
Annual Report on Form 20-F for the year ended December 31, 2015 and
in our other filings with the U.S. Securities and Exchange
Commission (the "SEC"). Forward-looking statements speak only as of
the date on which they are made and we assume no obligation to
update or revise any forward-looking statements or other
information, whether as a result of new information, future events
or otherwise.
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Teva Pharmaceutical Industries Ltd.IR Contacts:Kevin C.
Mannix, United States, 215-591-8912Ran Meir, United
States, 215-591-3033Tomer Amitai, Israel, 972 (3)
926-7656orPR Contacts:Iris Beck Codner, Israel, 972 (3)
926-7687Denise Bradley, United States, 215-591-8974
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