Teva sells off products in preparation for Allergan merger

Israeli generics giant Teva Pharmaceuticals is selling off a basket of drug products in a bid to head off concerns from competition authorities ahead of its takeover of Allergan’s generics business.

Teva has struck deals with Impax and Sagent in the US, and India’s Dr Reddy’s Laboratories, covering products at various stages of development. Impax will pay $586 million (£446 million) for 15 already marketed products, plus a handful of products that are approved or pending. Dr Reddy’s is taking seven drugs that have been filed for regulatory approval in the US, and one that is already approved but not yet launched on the market, for a total of $350 million. Sagent will acquire four filed products for $40 million.