Teva Pharmaceutical Industries Limited (TEVA) Moving Away From Major Acquisitions
11/21/2012 7:44:28 AM
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) chairman Phillip Frost told "Bloomberg" that the pharmaceutical company is changing its strategy and moving away from multi-billion dollar acquisitions. He said, “Acquisitions don’t have to be major to be important. The idea of the multibillion-dollar type of acquisition is going to be reserved for very special cases going forward, in which the desirability is so compelling and so game-changing that everyone will feel it has to be done.” Frost owns about $815 million of Teva shares. He said, “There is the opportunity for product acquisitions, for small company acquisitions, for technology acquisitions, and to bring in new people who themselves are capable of creating the new products." Over the past decade alone, Teva has made 25 acquisitions including five of more than $3 billion each.