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Teva to acquire US-based generics maker Anda Posted 12/08/2016

Israeli generics giant Teva Pharmaceutical Industries (Teva) announced on 3 August 2016 that it had entered into a definitive agreement to buy US generics business Anda from Allergan.

Anda is the fourth largest distributor of generics in the US. The company distributes generic, brand, specialty and over-the-counter pharmaceutical products from more than 300 manufacturers to retail independent and chain pharmacies, nursing homes, mail order pharmacies, hospitals, clinics and physician offices across the US.

Teva will pay US$500 million for Anda and expects the company to generate more than US$1 billion in third-party net revenue for 2016.

Anda will continue to operate as a stand-alone business and, as part of the deal, Teva will acquire three distribution centres in Olive Branch, Massachusetts; Weston, Florida; and Groveport, Ohio, with a total of over 650 employees.

The move is expected by Sigurdur Olafsson, President & CEO of Global Generic Medicines, to enable Teva ‘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’.

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Source: Teva

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