Teva Bets on Stem Cells, Cancer in $6.2 Billion Cephalon Bid

Teva Pharmaceutical Industries Ltd., swooping in to outbid Valeant Pharmaceuticals International Inc. for Cephalon Inc., is counting on “high-risk, high-reward” stem-cell treatments and therapies for asthma and lung cancer to help it overcome growing competition to its biggest product.

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