Teva To Buy Japan’s 3rd Largest Generic Drug Company Taiyo Pharmaceutical Fro $500 Million
Posted May 03 2011 8:38pm
Teva is on a buying binge it look like at it just announced yesterday the purchase of Cephalon with a successful bid. I think Teva is on its way to be the largest generic drug company in the world at this rate and they also create some of their own drugs. BD
TOKYO — Israel's Teva Pharmaceutical Industries has decided to buy Japan's third-largest generic drug company Taiyo Pharmaceutical Industry for about $500 million, the Nikkei newspaper said Tuesday.
Teva, the world's top generic drug maker, will likely take control of Taiyo by purchasing a majority stake from the founding family and other shareholders, it said.
Teva started a Japanese unit in 2005 and formed a generic drug joint venture, Teva-Kowa Pharma, with midtier Japanese pharmaceutical firm Kowa in 2008.