Teva Will Drive Biotech M&A

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Seemingly still hungry for acquisitions, Israeli generic drugmaker Teva Pharmaceutical has announced that biotechnology firms are likely targets, in line with its growth strategy outside generics. CFW believes that while the firm is clearly chasing global dominance and should not overlook any new opportunities, any new purchases may not happen in the next two years while Teva consolidates its most recent acquisition of Barr Pharmaceuticals. Teva's list of recent acquisitions is impressive. It bought Bentley Pharmaceuticals for US$360mn, CoGenesys for US$400mn and most recently Barr for US$7.4bn. Teva is unlikely to opt for another large purchase to keep it on