BioCentury
ARTICLE | Company News

Sicor Inc., Teva deal

January 26, 2004 8:00 AM UTC

TEVA completed its previously announced acquisition of SCRI in a cash and stock deal worth $3.4 billion. Under the deal, each SCRI share was exchanged for $16.50 in cash and 0.1906 TEVA ADRs. Based on TEVA's Jan. 21 close of $58.76, the per share consideration for each outstanding share of SCRI was $27.70. SCRI shareholders will own about 7% of TEVA on a fully diluted basis. TEVA said the deal strengthens its injectable and oral generics business and adds biogenerics capabilities. ...