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...Hannah Kuchler, Shaunagh Connaire, Nick Verbitsky, Annie Wong, Rebecca Blandon and Tom Jennings This story is part of a collaboration with the PBS series FRONTLINE, which includes the documentary ‘Opioids, Inc...
...“In this case, our preliminary finding is that Teva and Cephalon broke EU antitrust rules by agreeing on Cephalon paying Teva to keep its cheaper generic version of Cephalon’s sleep disorder drug, modafinil...
...Instead, on March 21, 2014, about two years after its launch, Subsys managed to nose past Cephalon’s Actiq, then a leader in this narrow category, in number of prescriptions written, according to IMS Health...
...Israel’s biggest company by sales has taken a cautious approach to M&A ever since its $6.8bn takeover of Cephalon in 2011 failed to deliver the promised returns and saddled the company with debt....
...Mr Levin steered investors away from fresh large-scale acquisitions, following its $6.5bn purchase of Cephalon. The company has been linked by analysts to other potential targets, including Amarin....
...Last year Valeant attempted a $5.7bn hostile takeover of Cephalon but was ultimately outdone by a $6.8bn offer from Teva, the Israeli generic drugmaker....
...Sales in Europe dropped 2 per cent to $1.3bn, with lower generic revenues offset by a boost in Teva’s branded products following its $6.8bn acquisition of Cephalon last year and an increased contribution...
...In February 2009, the company licensed Lupuzor to Cephalon Inc and “encouraging progress” was made....
...Generic drug companies have been looking for greater scale lately, highlighted by Watson’s acquisition of Actavis for €4.5bn in April and Teva’s $6.8bn acquisition of Cephalon last year....
...If his company’s €4.5bn purchase last week by Watson of the US signalled the former approach, Teva’s partnership unveiled last year with Procter & Gamble and its $6.8bn purchase of Cephalon pointed to the...
...Teva, by contrast, is moving away from its core generics business, spending $7bn to buy the branded company Cephalon last year and entering into a partnership with Procter & Gamble to sell over-the-counter...
...Teva said on Monday it would pay $81.50 a share in cash for Cephalon, versus Valeant’s $73 offer....
...Should those fans be cheering or weeping now that Israel’s Teva Pharmaceutical has outbid Valeant and gained control of Cephalon?...
...In a letter to Cephalon’s board before deciding to go hostile, Mr Pearson chided Cephalon for decreasing its value by spending $400m on additions to its pipeline since the time the takeover offer had been...
...The $73-a-share bid represents a 24 per cent premium over Tuesday’s closing price and 29 per cent over Cephalon shares’ 30-day trading average, Reuters says....
...The $73-a-share cash proposal, representing a 29% premium to Cephalon’s average share price over the past month, follows Valeant’s attempts to engage Cephalon’s management and board in takeover discussions...
...Cephalon’s share price closed at $77.02 last week....
...Cephalon’s stock rose 4.25 per cent in lunchtime trading on Monday to $80.30. Teva’s deal represents a 39 per cent premium to where Cephalon shares were trading before the Valeant bid....
...just acquire Cephalon’s non-oncology assets for $2.8bn....
...Mr Pearson may yet follow the traditional pattern of consolidation in the sector, with a hostile bid for Cephalon becoming agreed after some sweetening....
...Related links: Teva to buy Taiyo stake for $460m – Bloomberg Takeda/Nycomed – Lex Teva/Cephalon, Valeant beats retreat - Lex...
...the individual doctors receiving the highest level of support was Zale Bernstein, an associate professor from the Roswell Park Cancer Institute in Buffalo, New York, who received $234,000 in 2010 from Cephalon...
...The news sent shares in Cephalon up 4 per cent to $80.11, near its all-time high, while Teva’s American shares added 3.4 per cent to $47.27....
...Matrix Group said the bid was good news for companies that have a collaboration with Cephalon, like ImmuPharma. “Teva is likely to keep the late-stage pipeline of Cephalon intact, in our opinion....
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