Allergan has entered into a definitive agreement under which Teva Pharmaceutical Industries will acquire Anda Distribution business for $500 million.
Anda distributes generic, brand, specialty and over-the-counter pharmaceutical products from more than 300 manufacturers to retail independent and chain pharmacies, nursing homes, mail order pharmacies, hospitals, clinics and physician offices across the U.S.
Until the transaction is completed, Allergan will continue to operate Anda in a business-as-usual manner, providing full support to manage the business, introducing new products and maximizing its partnerships with customers.
The transaction is expected to close by the end of this year.
“The sale of Anda to Teva Pharmaceuticals is a strategic transaction that benefits Allergan and the employees and customers of the Anda business,” said Brent Saunders, CEO and president of Allergan. “For Allergan, this divestiture continues our evolution as a focused branded Growth Pharma leader, powered by growing leadership positions across our seven therapeutic areas, developing and bringing to market innovative therapies from our industry leading pipeline, simplified operating structure and adding new development programs through our Open Science R&D model.”