Jerusalem, October 14, 2011 - Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) announced today that it has completed its acquisition of Cephalon, Inc. (NASDAQ: CEPH). The combined company will have a significant presence in over 60 countries and generated approximately $20 billion in revenues on a pro-forma basis for the twelve months ended June 2011.
“This important transaction reinforces Teva's long term strategy of building out our branded and specialty pharmaceuticals business through diversification and expansion of our product portfolio and pipeline, while enhancing our position as the worldwide leader in generics,” said Shlomo Yanai, President and CEO of Teva. “Our newly-expanded portfolio in CNS, Oncology, Respiratory and Women’s Health along with our robust pipeline of more than 30 late-stage products truly cements our position as a leader in specialty pharma.”
Mr. Yanai added, “We are welcoming many of Cephalon’s talented employees into the Teva family. The combination of our two winning teams will position Teva to create maximum value for our patients and customers.”
On October 14, 2011, Cephalon Inc. became a wholly owned subsidiary of Teva and ceased to be traded on NASDAQ. Pursuant to the merger agreement between the parties, each share of Cephalon common stock has been converted into the right to receive $81.50 in cash. Share exchange instructions and a letter of transmittal will be mailed to Cephalon shareholders shortly.
As previously announced, Teva expects the acquisition to be immediately accretive to Teva's non-GAAP earnings per share and accretive to Teva's GAAP earnings within the fourth quarter of closing.
About Teva
Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) is a leading global pharmaceutical company, committed to increasing access to high-quality healthcare by developing, producing and marketing affordable generic drugs as well as innovative and specialty pharmaceuticals and active pharmaceutical ingredients. Headquartered in Israel, Teva is the world's largest generic drug maker, with a global product portfolio of more than 1,300 molecules and a direct presence in about 60 countries. Teva's branded businesses focus on neurological, respiratory and women's health therapeutic areas as well as biologics. Teva currently employs approximately 42,000 people around the world and reached $16.1 billion in net sales in 2010.................. Teva has a market cap currently of 36.9 billion dollars which sits in the top ten MC,s overall in the Nasdaq........As stated above "
The combined company will have a significant presence in over 60 countries and generated approximately $20 billion in revenues on a pro-forma basis for the twelve months ended June 2011." ......There will be many current TEVA Investors and institutional investors in a many of the 60 countries mentioned above who will be looking at at MSB ,the new kid on the block within in TEVA for the first time and, its not Embryonic , Its Adult Stem Cell technolgy and they have plenty of runs on the board ...It really is only the beginning.. $10 SP is the first step in an upward direction ....Cheers Vin
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