Teva rejected opportunity to acquire Perrigo - (Globes via NewsPoints Desk)

  • According to sources, Teva, which is currently pursuing a takeover of Mylan, rejected an opportunity to purchase Perrigo, Globes reported Monday.
  • Teva likely rejected the proposal because Perrigo operates primarily in the over-the-counter store-brand market, which is not a focus of the Israeli company.
  • Mylan is currently pursuing a takeover of Perrigo in an effort to avert Teva's efforts.
  • Teva has indicated that its offer to acquire Mylan is contingent on the Dutch company abandoning its efforts to purchase Perrigo.
  • The Israeli drugmaker suggested that most analysts and investors view Teva's bid to purchase Mylan more favourably than Mylan's efforts to acquire Perrigo.
  • As Teva is developing a generic version of Mylan's EpiPen and Mylan is preparing to launch a generic of the multiple sclerosis drug Copaxone, some experts have suggested that a merger between the companies could raise antitrust concerns.

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