JERUSALEM and AHMEDABAD, India — The sale of Teva’s Actavis U.K. and Actavis Ireland to Intas Pharmaceuticals through its subsidiary Accord Healthcare for £603 million, Intas announced Tuesday. The transaction is part of the European Commission’s antitrust divestiture requirements surrounding Teva’s acquisition of Allergan’s generics business.
“The completion of this acquisition captures a great opportunity for growth and demonstrates Intas' commitment to greater European expansion,” Intas vice chairman and managing director Binish Chudgar said. “The joining of these two companies means we can continue our successful European operating path, which started more than a decade ago. … Through our subsidiary, Accord Healthcare, we are welcoming the Actavis team into the Intas family and will ensure a smooth integration of the two businesses.”
The deal strengthens Accord’s U.K. and Ireland footprints, expanding its manufacturing presence with the addition of Actavis’s GMP Barnstaple site and bringing its workforce in the region to more than 1,000 employees.