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Teva Pharmaceutical Industries Limited (TEVA) Buys 19% Of Clal Biotechnology Industries For $19 Million


10/19/2005 5:09:17 PM

Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) has acquired 19% of Clal Biotechnology Industries Ltd. (CBI), for $19 million. Under the agreement, Teva and CBI parent company Clal Industries and Investments Ltd. (TASE:CII) will later jointly invest $31 million in CBI; Teva will invest 19% of this amount, or $6 million, and Clal Industries will invest $25 million. Most investment will be in the life sciences.

Read at Globes Online

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