The rumour mill has been running this weekend with reports that Teva Pharmaceutical is looking to buy Allergan’s generics business, signalling that interest in a tie-up with Mylan is waning.
A deal for around $45 billion - which would see Allergan’s generic unit sectioned off and combined with Teva - could be sealed as early as Monday, the Wall Street Journal has reported people close to the matter as saying.
Teva, which already holds the number one spot on the global generics stage for sales, has been pulling out all the stops to buy rival generics maker Mylan to further consolidate its position, but it seems that the move on Allergan could mark the end of this pursuit.
Mylan has repeatedly spurned Teva’s advances, as it itself attempts to buy Irish drugmaker Perrigo for around $37 billion.
Terms of the potential deal are reportedly still being hashed out, including whether Allergan’s drug-distribution business will included, people familiar with the talks told the WSJ.