The Pharmaceutical Journal
Vol 275 No 7360 p134
30 July 2005

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News summary

TEVA takes over IVAX

Generics company TEVA Pharmaceutical Industries, based in Israel, is to buy the US IVAX Corporation. IVAX will cost TEVA $7.4bn. TEVA chairman Isreal Makov said: “Bringing our two companies together will vastly enhance our leadership position in the global generics industry.” After the takeover, TEVA will employ 25,000 people and is expected to generate annual sales of over $7bn.