Teva to Buy Anda from Allergan
Israel’s Teva Pharmaceutical Industries has agreed to buy Allergan’s generics distributer Anda for $500 million. Anda distributes generic, branded, specialty and over-the-counter pharmaceutical products from more than 300 manufacturers to various healthcare and pharmacy outlets across the US. It is expected to generate more than $1 billion in third-party revenues this year. Three distribution centers are included in the deal, located in Olive Branch, Mississippi; Weston, Florida and Groveport, Ohio.
“Anda is a natural fit into our business in general and our extensive supply chain network in particular,” said Siggi Olafsson, president and CEO of Teva Global Generic Medicines. “This strategic move enables us and our customers to improve capabilities and flexibility given the changes the pharmaceutical industry is currently undergoing, in order to provide access to more patients throughout the country.”
The transaction, which is subject to antitrust clearance and other conditions, is expected to close in the second half of 2016. The Israeli drugmaker announced the deal just days after it completed its acquisition of Allergan’s generics business Actavis.