March 31, 2008

Teva Pharmaceutical Industries Ltd. agrees to acquire Bentley Pharmaceuticals, Inc. for approximately $360 million.

On March 31, it was announced that client Teva Pharmaceutical Industries Ltd. had entered into a definitive agreement to acquire Bentley Pharmaceuticals, Inc. for approximately $360 million. The acquisition will take place following the spin-off of Bentley's drug delivery business to its shareholders.  Bentley manufactures and markets a portfolio of approximately 130 pharmaceutical products in various dosages and strengths, as both branded generic and generic products, to physicians, pharmacists and hospitals.  Bentley markets its products primarily in Spain, but also sells generic pharmaceuticals in other parts of the European Union.  Headquartered in Israel, Teva is among the top 20 pharmaceutical companies in the world and is the leading generic pharmaceutical company.   The transaction was handled by a multidisciplinary team at Willkie, including partners Jeffrey Hochman, David Rubinsky and Christopher Peters; and associates Scott Eisenberg, Amanda Granacher, Jordan Messinger and Jonathan Reich.