Cipla, Glenmark, Sun Pharma bidding for Teva–Allergan generics in the US

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Cipla, Glenmark, Sun Pharma bidding for Teva–Allergan generics in the US

Generics/News | Posted 08/01/2016 0 Post your comment

Indian generics makers Cipla, Glenmark Pharmaceuticals (Glenmark) and Sun Pharmaceutical Industries (Sun Pharma) are reportedly bidding for a portfolio of US generics from Teva Pharmaceutical Industries (Teva).

The Indian companies are among 30 companies participating in the bidding process. The generics are overlapping products gained as a result of Teva’s acquisition of Allergan’s generics division for US$40.5 billion in August 2014 [1]. They are being sold off in order to gain antitrust approval from the US Federal Trade Commission (FTC), which wants to ensure fair marketing competition.

The portfolio contains about 35 generics, including oral solids, capsules, soft gels and hormones, and is valued at between US$500–800 million.

The first round of bidding attracted as many as 65 generics companies worldwide. The second round of bidding is expected to include around 20 companies, possibly also including Sandoz, and was expected to start at the end of November 2015.

Other Indian companies also thought to be in the running include Zydus Cadila and Dr Reddy’s Laboratories.

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Reference
1. GaBI Online - Generics and Biosimilars Initiative. Teva acquires Mexican drugmaker Rimsa [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2016 Jan 8]. Available from: www.gabionline.net/Pharma-News/Teva-acquires-Mexican-drugmaker-Rimsa

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