August 4, 2010
Teva’s acquisition of Germany’s second largest generics producer expected to close in the near future.
On August 3, Willkie client Teva Pharmaceutical Industries Ltd. announced that the company has received approval from the European Commission to proceed with its acquisition of ratiopharm, Germany's second largest generics producer and the sixth largest generic drug company in the world. The $5 billion acquisition was announced in March 2010. Willkie, serving as lead antitrust and competition counsel, represented Teva before the EC. In connection with the EC review and approval of this transaction, Teva made certain limited commitments, which are anticipated to have only a marginal effect on the combined companies' activities. Teva plans to close the transaction in the near future.
Headquartered in Israel, Teva is among the top 15 pharmaceutical companies in the world and is the leading generic pharmaceutical company. The company develops, manufactures and markets generic and innovative pharmaceuticals and active pharmaceutical ingredients. The matter was led by Willkie partners William Rooney (NY) and David Tayar (Paris); special counsel David Park; and associates Mili Desai, Agathe Richard, Melissa Sedrish, Bonka Serafimova, and Julien Vilquin.
