May 5, 2011

#BDS: Israel's Teva Pharmaceutical Industries to buy Japan's Taiyo

"TOKYO (AFP) -- Israel's Teva Pharmaceutical Industries has decided to buy Japan's third-largest generic drug company Taiyo Pharmaceutical Industry for about $500 million, the Nikkei newspaper said Tuesday.

Teva, the world's top generic drug maker, will likely take control of Taiyo by purchasing a majority stake from the founding family and other shareholders, it said.

Teva started a Japanese unit in 2005 and formed a generic drug joint venture, Teva-Kowa Pharma, with midtier Japanese pharmaceutical firm Kowa in 2008."

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