Teva Pharmaceutical Industries Limited Eyes $2 Billion Micro Laboratories, Inc. Acquisition
Published: Jan 30, 2012
The fact that Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has explicitly said that it has no plans to make large acquisitions any time soon has not stopped speculations about the company's next buyout. Indian website "VCCircle" reports that Teva is a contender to acquire Micro Labs Ltd. for almost $2 billion. While the amount is not on the scale of Teva's last three multibillion takeovers of Cephalon, ratiopharm, and Barr Pharmaceuticals, it is not a small amount either. "VCCircle" says that Pfizer Inc. (NYSE: PFE; LSE: PFZ), private equity buyout firms are eyeing Bangalore-based private branded generics manufacturer Micro Labs. The company produces tablets and intravenous drugs for a range of medical fields. The company had a net profit of $45 million on $280 million revenue in the year through March 2011.