Teva Pharmaceutical Industries acquired German generics maker Ratiopharm for an enterprise value of approximately EUR 3.6 billion (~$4.95 billion) in an all-cash transaction, completed in August 2010. The deal made Teva the number-one generics company in Europe, with leading positions across ten countries, and created a combined entity with roughly $16.2 billion in pro-forma revenues. Teva targeted at least $400 million in synergies within three years of closing.