Teva completes $500 million acquisition of Allergan’s Anda

4 October 2016 (Last Updated October 4th, 2016 18:30)

Israeli-based Teva Pharmaceutical Industries has completed the acquisition of Allergan’s generic pharmaceuticals distributor Anda, as part of a previously announced deal worth $500 million.

Israeli-based Teva Pharmaceutical Industries has completed the acquisition of Allergan’s generic pharmaceuticals distributor Anda, as part of a previously announced deal worth $500 million.

Teva and Anda reached an agreement to this effect in August this year.

As part of the deal, Teva acquired Anda's distribution centres in Olive Weston, Florida; Branch, Mississippi; and Groveport, Ohio, with a total of more than 650 employees.

Teva Pharmaceutical Industries global generic medicines president and CEO Siggi Olafsson said: “We are pleased that Anda, one of the leading distributors of generic medicines in the US, is now part of Teva.

"This acquisition enables us and our customers to provide more patients throughout the country with access to generic medicines."

"This acquisition reflects our continued view that attractive growth opportunities, both external and organic, exist for our business and for our extensive supply chain network in particular.

“This acquisition enables us and our customers to provide more patients throughout the country with access to generic medicines."

Anda is involved in the distribution of generic, brand, specialist and over-the-counter pharmaceutical products from more than 300 manufacturers to retail independent and chain pharmacies, mail order pharmacies, hospitals, nursing homes, clinics and physician offices across the US.

Anda president and CEO Charles D. Phillips said: “We are excited to become part of Teva’s distribution network to support our customers and patients across the country.

“By joining forces with Teva, Anda’s product offerings will significantly increase and we will be able to reach more patients in the United States.”

Earlier in August, Teva also acquired Allergan’s generics business Actavis Generics for $33.4 billion in cash.