Pharma BD Deal Intelligence

Teva Pharmaceutical Industries Ltd. / Ivax Corporation

2005 · Acquisition/Merger · $7.4B · Complete

A $7.4B cash-and-stock deal that made Teva the world's largest generics company, adding Ivax's US and Latin American portfolios to push combined revenues past $7 billion. The consolidation played its part, though the acquisitions kept coming and eventually loaded Teva with the debt behind its 2017 goodwill writedown.

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Teva Pharmaceutical Industries acquired IVAX Corporation for approximately $7.4 billion in a cash-and-stock transaction ($26 cash or 0.8471 Teva ADRs per share, subject to 50/50 proration), consolidating Teva's position as the world's largest generics company with combined revenues over $7 billion and strengthening its US and Latin American presence.

Key facts

• Announced Jul 25, 2005
• Closed Jan 26, 2006
• Deal value $7.4B
• Deal type Acquisition/Merger
• Therapeutic area Neurology
• Key assets IVAX US generics portfolio, Latin American branded generics (including Mexico, Brazil), IVAX manufacturing network, Generic portfolio

Deal timeline

• Jan 26, 2006
  Deal Closes for $7.4B

  Teva Pharmaceutical Industries closes acquisition/merger of Ivax Corporation for $7.4B, establishing strategic position and initiating integration.

• Jan 26, 2006
  Global generics empire expanded but contributed to serial acquisition debt burden

  Teva acquired Ivax for $7.4B becoming global generics leader but the deal fed an acquisition spree that eventually led to massive 2017 goodwill writedown.

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