Teva acquires US-based drug distributor Anda for $ 500 mn
Posted on:10 Aug 2016 09:30:11
10 August 2016 Current Affairs GK: Israel’s Teva Pharmaceutical Industries Ltd has agreed to purchase Allergan’s Anda Inc, the fourth largest distributor of generic pharmaceuticals in the US, for $ 500 million.
Anda is a natural fit into our business in general and our extensive supply chain network in particular. We believe Anda is truly a unique company which further enhances the offerings that Teva can provide.
This strategic move enables us and our customers to improve capabilities and flexibility given the changes the pharmaceutical industry is currently undergoing, in order to provide access to more patients throughout the country.
Additionally, both Teva and Anda’s customers will benefit from our ability as the largest producer of medicines in the world to leverage our size and scale.
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 US. For the full year 2016, Anda is expected to generate more than $ 1 billion in third-party net revenue.
As part of the deal, Teva will acquire three distribution centers in Olive Branch, MS; Weston, FL; and Groveport, OH, with a total of over 650 employees.
Anda will continue to operate as a stand-alone business and report directly to me. The addition of Anda and their ability to service over half of their 60,000 customers within 24 hours, combined with our existing offerings, will allow us to provide even better service to our customers.
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