Please login to the form below

Not currently logged in
Email:
Password:

Teva/Cephalon deal faces delay

Teva and Cephalon have been asked to provide additional information regarding the proposed takeover

Teva Pharmaceutical Industries and Cephalon have received a request for additional information from the US Federal Trade Commission (FTC) in connection with Teva's $6.8bn pending acquisition of Cephalon. The request will extend the Hart-Scott-Rodino Antitrust Improvements Act of 1976 waiting period until 30 days after the parties have substantially complied with the request, unless that period is terminated sooner by the FTC.

The companies said that they have been cooperating with FTC staff since shortly after the announcement of the transaction and intend to continue to cooperate with the FTC to obtain clearance as promptly as possible.

The companies said they expect that the takeover to be completed in the third quarter of 2011, following completion of the HSR clearance process, clearance by the European Commission under the EC Merger Regulation, and the approval of Cephalon stockholders.Meanwhile Teva has signed a $4bn credit deal with a banking syndicate, made up of European, US, Canadian and Israeli banks.

15th June 2011

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
SEVEN STONES

Seven Stones is a creative, independent healthcare communications agency of movers and thinkers. We've been doing health differently since 1991....

Latest intelligence

OUTiCO win Best in UK Pharmaceutical Outsourcing award
The Corporate LiveWire Healthcare and Life Sciences Awards celebrate global companies and individuals who have excelled over the past 12 months....
artificial-intelligence-in-healthcare.jpg
Artificial Intelligence in Healthcare
Artificial intelligence is already out-diagnosing experts, but would you put a computer in charge of your healthcare? The good, the bad; we take a look....
World Pancreatic Cancer Day 2018: Combating misconceptions in pancreatic cancer
Patients diagnosed with pancreatic cancer face a dismal prognosis, with the disease having the lowest survival rate of all major cancers. In spite of this, pancreatic cancer research is chronically...

Infographics