Teva Pharmaceutical Industries to Acquire Germany’s Ratiopharm
Teva Pharmaceutical Industries announced today that it will acquire ratiopharm, Germany’s second largest generic drug producer and the sixth largest worldwide, for $4.95 billion. Other companies bidding for ratiopharm included Iceland’s Actavis Group and US pharmaceutical company Pfizer, Inc. Teva expects to complete the transaction by the end of 2010, pending regulatory approvals.
Teva USA is the nation’s leading generic drug manufacturer, marketing over 300 products that includes oral tablets and capsules, injectables, creams, ointments, inhalants, solutions, and suspensions. Therapeutic lines include cardiovascular, anti-infective, CNS, anti-inflammatory, oncology, anti-diabetic, dermatology, respiratory, and female healthcare. Products are marketed to chains, wholesalers, distributors, government agencies, and healthcare systems.
Germany is the world’s second largest generic drug market. ratiopharm offers 750 medicines covering all major therapeutic areas marketed to 26 countries and has nearly 750 products at the approval stage.
With the acquisition, Teva will be the leading generic pharmaceutical company in Europe. They are currently among the overall top 20 pharmaceutical companies in the world.
Commenting on today's transaction, Shlomo Yanai, Teva's President and Chief Executive Officer, said: "This is an important acquisition for Teva. This transaction is perfectly aligned with our long-term strategy in which Europe is an important pillar and growth driver. ratiopharm will provide us with the ideal platform to strengthen our leadership position in key European markets, most notably in Germany, as well as rapidly growing generic markets such as Spain, Italy and France."
Oliver Windholz, Chief Executive Officer of ratiopharm, said, "For ratiopharm, Teva is a natural fit, with its international focus and our shared generic vision. We are convinced that together we can gain enormous growth potential in all markets. Being a part of the Teva family will enable our management team and employees to continue to grow our business and fully materialize the great talent we have at ratiopharm."
This page is updated on May 13, 2013.