US antitrust body OKs Teva's acquisition of Cephalon, but with divestments
Israel-based Teva Pharmaceutical Industries (Nasdaq: TEVA) says that the US Federal Trade Commission has accepted the proposed consent order in connection with the pending $6.8 billion acquisition of US biotech firm Cephalon (Nasdaq: CEPH) by Teva, which outbid Canada’s Valeant Pharmaceuticals for the company (The Pharma Letter March 3), and granted early termination of the Hart Scott Rodino waiting period.
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