Intas Pharmaceuticals Ltd. ("Intas"), through its wholly owned subsidiary Accord Healthcare Ltd. ("Accord"), announced that it has entered into definitive agreements to acquire Actavis UK Ltd. & Actavis Ireland Ltd. ("Actavis UK & Ireland") from Teva Pharmaceutical Industries Ltd. ("Teva") for an enterprise value of approximately £600 million payable in cash.
The transaction is part of the European Commission's anti-trust divestiture requirements arising from Teva's acquisition of Actavis Generics.
Actavis UK & Ireland is one of the leading suppliers of generic pharmaceuticals in both the UK and Irish markets with selected assets and operations across the respective markets.
The company focuses on providing high quality generic products to both pharmacies and wholesalers in the UK & Ireland through its strong employee base of over 600 staff.
Actavis UK & Ireland is supported by a strong manufacturing presence in the UK through its Barnstaple site, which provides services both to Actavis UK and Ireland and other third parties. The company generated over £250m of sales in 2015.