October 18, 2011

European Commission approval clears way for closing of Teva Pharmaceutical’s deal to acquire Cephalon, Inc.

On October 13, Willkie client Teva Pharmaceutical Industries Ltd. received approval from the European Commission to proceed with its acquisition of Cephalon, Inc. Willkie represented Teva before the EU in its review. The $6.8 billion acquisition was announced last June and closed on October 14. In connection with the EU review and approval of this transaction, Teva made limited commitments. 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. U.S.-based Cephalon is a global biopharmaceutical company dedicated to discovering, developing and bringing medications to market.

The Willkie team was led by partners David Tayar in Paris and William Rooney in New York, and included associates Agathe Richard, Mathilde Saltiel, Maxime de l’Estang and Marion Bailly.

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