Mayne Pharma, page-13

Teva were forced to divest this portfolio of Allergan/Teva generics in order to meet anti-trust concerns, not financing. They didn't want to divest, it was mandated by the FTC!

sources:

http://www.wsj.com/articles/teva-acquisition-of-allergan-generics-unit-delayed-1458053808
http://www.reuters.com/article/us-allergan-m-a-teva-pharm-ind-assets-idUSKCN0XW277

oh and the MYX conference call:

"Hello, everybody. It's Scott Richards here. And I'm the CEO of Mayne Pharma. I'm here today with Mark Cansdale, our CFO. And on the line we have Stefan Cross, who is in the UK right now, who is the Head of our U.S. Operations. Hopefully, most of you've had a chance to look at the announcement that we sent out earlier today and the accompanying investor presentation. What I'd like to do on this call is, run through an overview of the transaction and the strategic rationale. Then Stefan will provide an overview of our operational plans and also talk about the new leadership that we brought into the business over the last year or so. Mark will then give a trading update on Mayne Pharma for the full year, and he'll also talk about the financial details of the acquisition, including funding. And then, we'll open up the call for questions. So, just to say, this is another transformational day for Mayne Pharma. So, today, we entered into a binding $652 million agreement with Teva Pharmaceutical Company, the world's largest generic company. We've acquired 42 generic products in the United States; 37 of those products are on market, and there's also a pipeline. This transaction forms part of the largest single divestiture of pharma products in U.S. history. It's been mandated by the Federal Trade Commission or FTC. And we expect the FTC will vote on the approval of this transaction, a $40 billion transaction between Teva and Allergan towards the backend of July. So, we're very, very excited. Overall, there are 70 molecules that have been divested by Teva to clear the FTC. And we are – Mayne Pharma is the single largest buyer with 42 products. The transaction is financially compelling. The purchase price represents less than six times forecast fiscal 2017 EBITDA. We expect to generate in the first 12 months post-close $237 million in net sales, and our average gross margins across the portfolio will be in excess of 50%. The incremental OpEx that we're investing in to manage this business is only 2% of acquired net sales, given the highly scalable nature of this business. As a result, the transaction is very strongly EPS accretive in the first full year on a reported and cash basis pre-synergies."