JERUSALEM- Aug. 3, 2016– 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.
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