Teva, Dr. Reddy’s Laboratories Ltd., Allergan deal

Teva agreed to sell a portfolio of eight ANDAs in the U.S. to Dr. Reddy’s for $350 million in cash. Teva is divesting the portfolio, which comprises one approved ANDA and seven ANDAs pending approval, as a precondition to its acquisition of Allergan’s generics business. The agreement is contingent on the closing of the Allergan deal and on Federal Trade Commission approval. Teva and Dr. Reddy’s declined to disclose additional details. ...