Teva Eyeing Hungary's Biogal
Israel's leading drugmaker Teva Pharmaceuticals is again in talks (an earlier set of which took place three years ago but broke down) with Hungarian state-owned Biogal NT with a view to acquiring the firm, which is valued at around $30 million. 1994 sales of the Hungarian company were around $100 million.
Biogal's main area of activity is in the production of drugs under license and manufacturing generic versions of off-patent products and chemicals. In the pharmaceutical sector, its key areas are cardiovascular drugs, gastrointestinals and antibiotics. Teva's chief executive last week confirmed to the Marketletter that it is still in talks with Biogal, but that no agreement had been reached.
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