Teva Pharmaceutical Industries Limited Buys Rest of Japanese JV for $150 Million

Teva Pharmaceutical Industries bought out its partner in a Japanese joint venture for $150 million in its drive to build its presence in the world's second-biggest drug market. Teva acquired the 50 percent interest held in the venture by Kowa Co., bringing Teva's holding to 100 percent, the world's largest generic drugmaker said on Monday. The deal using Teva's cash closed on Monday and will enable the company to act more freely, Teva President and Chief Executive Shlomo Yanai told Reuters. "We are much more prepared for the Japanese market and can be more efficient in our activities in Japan. We don't have the limitations of a partnership," Yanai said.
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