Teva Beats Pfizer to Win Ratiopharm for $5 Billion

Teva Pharmaceutical Industries Ltd. agreed to buy Ratiopharm GmbH for 3.63 billion euros ($5 billion), ending a nine-month battle for Germany’s second- biggest maker of generic medicines.

Petah Tikva, Israel-based Teva beat Pfizer Inc. and Actavis Group hf, which also competed in the auction, according to people with knowledge of the situation who declined to be named because the sale was private. Ratiopharm was put up for sale in June by the Merckle family, which sought funds to repay debt.

The acquisition is Teva’s biggest since buying Barr Pharmaceuticals Inc. for $7.4 billion in 2008. Ratiopharm gives the Israeli drugmaker a top spot in the $8.6 billion German market for copied drugs, the world’s second-largest after the U.S., according to Norwalk, Connecticut-based IMS Health Inc.

Read Full Article from BusinessWeek

- Posted: 2010-03-18 10:53:02

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