Posted on 19/07/08
Teva buys Barr to create dominant drug maker
Teva Pharmaceutical Industries Ltd. said yesterday it will buy rival generic drug maker Barr Pharmaceuticals Inc. for nearly $7.5-billion (U.S.), boosting Teva's dominance as the world's biggest generic drug maker. The deal continues consolidation of the generic-drug sector, driven by growth prospects as payers turn to the lower-priced medications. Israel-based Teva said acquiring Montvale, N.J.-based Barr, the world's No.
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