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Teva buys Allergan’s generic drug unit for $40.5B
USA Today

Teva Pharmaceutical Industries said Monday it has agreed to buy Allergan’s generic drug unit for about $40.5 billion.

Based in Jerusalem, Teva is one of the world’s largest generic drug manufacturers, and the stock-and-cash deal will help boost its pipeline, supply chain and global revenue sources, the company said.

Allergan, best known for making Botox, will receive $33.75 billion in cash and shares of Teva valued Monday at $6.75 billion. Approved by the boards of both companies, the deal is expected to close in the first quarter of 2016.