Israel's Teva Pharmaceutical Industries is set to purchase German generic-drug maker Ratiopharm after winning a bid for the right to make the purchase. Teva bid 3.5 billion euros ($4.78 billion), according to reports. Teva beat out U.S. pharmaceutical giant Pfizer for the deal. This is the second mega-deal Teva has made to purchase a generic firm in the past two years; in 2008, Teva purchased New Jersey-based generic drug manufacturer Barr Pharmaceuticals for $7.5 billion.