Teva to Buy Ratiopharm for Nearly $5 Billion
March 22, 2010
According to Reuters, Israel''s Teva has won the battle for German generic drugmaker Ratiopharm, paying an enterprise value of 3.625 billion euros to fix the industry leader''s weakness in the world''s second-largest generics market. Teva, which beat U.S. drugs powerhouse Pfizer and Iceland''s Actavis in the race for Ratiopharm, said the combined company would have had 2009 revenues of $16.2 billion, up from Teva''s own sales of $13.9 billion. Put on the auction block by Germany''s Merckle family as its business empire crumbled, Ratiopharm vies with Stada for second place among Germany''s generics makers, trailing Swiss drug major Novartis''s Hexal business.