More than 90% of the shares of Croatia-based
PLIVA d.d. (
PLVGF) has been tendered to the European subsidiary of
Barr Pharmaceuticals Inc. (
BRL) for close to $2.5 billion . The deal is expected to close on October 25.
"... Our new, combined company will have revenues of approximately $2.4 billion, a strong balance sheet and a strong cash position that will enable it to pay down debt related to the acquisition, as well as provide sufficient capital to fund expanded investment in generic and proprietary activities in Croatia, and throughout Europe and the United States."
According to
CNN Money, Barr and Pliva will constitute the third-largest generic drug maker in the world, behind Israel's
Teva Pharmaceutical Industries Ltd. (
TEVA) and Switzerland's
Novartis AG (
NVS). Read more details of the acquisition from
Barr's press release.
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