Despite Repeated Rebuffs, Teva Pharmaceutical Industries Limited Woos Cipla Ltd. With $6 Billion Offer
Published: May 08, 2014
It’s the season for pharma deals, and the world’s largest maker of off-patent drugs, Israel’s Teva Pharmaceutical Industries Ltd, is wooing Cipla Ltd with an offer that is as high as $6 billion, people familiar with the matter said. The Israeli company, which is targeting revenue of $31 billion by 2015 (it also wants to reduce costs by $2 billion in the next two to three years) has since 2012 twice made approaches to the Indian drug maker. It was rebuffed both times.
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