Deals
Allergan May Turn Sights to Amgen or AbbVie With Teva Cash
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Allergan Plc says it’s “reloaded and ready to move” on further acquisitions after agreeing to sell its generic-drug business for $40.5 billion.
The deal with Teva Pharmaceutical Industries Ltd. “gives us a tremendous amount of flexibility to think about transformational M&A as well as continue our pattern of tuck-in acquisitions,” Allergan Chief Executive Officer Brent Saunders said on a conference call today. It’s likely that in 18 months, Allergan will use the cash it’s getting from the Teva deal, he said.