Israel's Teva Acquires APS/Berk
Israeli drugmaker Teva has signed an acquisition agreement for Approved Prescription Services Ltd and its subsidiaries (APS/Berk) of the UK. Teva has taken over the company from Rhone-Poulenc Rorer Holdings Ltd for L34 million ($52.7 million) in cash.
The UK is one of Europe's more developed generics drug markets, according to Teva, which says that APS/Berk is the second largest company in this UK sector and has a market share of about 20%. Its sales in the first half of 1996 rose to L22 million, with considerably higher margins and operation profits of over L1 million.
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