Teva Buys U.S. Generic Drugmaker

Teva Pharmaceutical Industries Ltd. (Petach Tikva, Israel) says it has completed the acquisition of Bentley Pharmaceuticals (Exeter, NH) for about $360 million. Bentley produces generic pharmaceuticals, which generated revenues of about $114 million in 2007. Teva expects the acquisition to become accretive to earnings within 12 months. Bentley spun off a drug delivery business to shareholders in June and currently manufactures and markets about 130 pharma products, as well as active pharmaceutical ingredients (APIs) through its subsidiary Bentley API. The...

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