Daily Israel Report
21:59
Reported

News Brief

  5/2/2011, Nissan 28, 5771

Teva to Buy Japanese Pharma Co.


In its second purchase of a pharmaceutical company in one day, Teva is purchase Japanese pharmaceutical firm Taiyo for 40 billion Japanese yen ($40 million), reports said Monday night. The purchase was reported in Japanese financial newspaper Nikkei. The company has been producing generics and branded products for the last 40 years.

Earlier, Teva said it had reached an agreementto buy the American company Cephalon for $6.8 billion. Cephalon makes treatments for central nervous system disorders, pain, and cancer. It employs 3,700 people in the U.S. and Europe, and this year's sales are estimated at $3 billion.