Teva to acquire Barr; says Israeli's Globes

The world's largest generic drugmaker, Israel's Teva, may acquire fellow copy-drug firm, the USA's Barr Pharmaceuticals, according to anonymous sources quoted by Israeli newspaper Globes. It reported that Teva is currently in discussions with Barr over the deal that could be worth over $5.0 billion, yet US financial news service Bloomberg noted both firms declined to comment on the report. Nonetheless, shares in Barr rose 20% to $56 in extended trading on the day of the news, July 16. Bloomberg quoted pharmaceutical analyst Corey Davis of Natixis Bleichoeder, New York, who said the merger would allow Teva to break into the lucrative oral contraceptive market.