Teva in $360m Bentley acquisition
24 Jul 2008
Teva has revealed it has completed the acquisition of Bentley Pharmaceuticals for approximately $360 million (£180.4 million).
Following the agreement, Bentley is to operate under the Teva name in Spain.
Teva says the move is aimed at providing it with a platform from which it can become a leader in the Spanish generics marketplace, with the country said to represent one of the fastest-growing markets in Europe.
According to the Israeli pharmaceutical firm, it is currently the fourth-largest generic company in Spain in the hospital market and as a result of the acquisition it will have a portfolio of over 170 products in the Spanish market.
The move comes after the country had been identified by Teva as a key target in its five-year strategic plan.
Last week, the company announced it had signed an agreement to acquire the generic firm Barr for $7.46 billion.
The deal is expected to be concluded later this year and Teva says it will strengthen its position in the US as well as in key European markets.
