(BIZ) Teva Pharmaceutical Industries Acquires Germany's Ratiopharm

"Teva Pharmaceutical Industries announced early this month that it had completed the acquisition of Germany's Ratiopharm, which it acquired in March. The closing came ahead of schedule.

Teva paid €3.625 billion for the Ratiopharm shares, plus €186 million in accrued interest and expects synergies of at least $400 million, which should be fully realized within three years. The figure is higher than the original savings of $250 million that Teva reported in the original acquisition announcement.

Ratiopharm is Germany's second-largest producer of generics. Teva holds the leading market position for a generic pharmaceutical company in ten countries, and ranks in the top three in seven other countries.



Israel's financial daily Globes reported that Teva president and CEO Shlomo Yanai said: 'Teva, the world's leading generic pharmaceutical company, will now become the number one generics company in Europe as well. Increasing Teva's market share in Europe - a geography with tremendous potential for generics penetration - is an important pillar of our long-term growth strategy.'

'With the acquisition of Ratiopharm we will become the leader in key European markets and we are well-positioned to become the leader in many other European markets in the near future.'" (source)