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Teva to expand in Spain with Bentley buy
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Teva Pharmaceutical is on an expansion quest. Today it's agreed to buy Bentley Pharmaceuticals, which is heavily entrenched in Spain and sells generics in other E.U. countries. The company will dovetail nicely with Teva Spain and serve as a platform for growth there, its president and CEO said. The $360 million cash deal is subject to Bentley's previously planned spin-off of its drug-delivery business to its shareholders. Regulators also will have to clear the deal.
The buyout announcement comes just two weeks after Teva announced it would spend $100 million build a new plant in the Czech Republic and create 400 new jobs there.
- here's the release
- read the MarketWatch news
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