Speculating in Takeover Targets Message Board

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Strategies & Market Trends : Speculating in Takeover Targets

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Nov 5 3:59 PM EST

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To: richardred who wrote (1134)	3/31/2008 11:49:37 AM
From: richardred	Read Replies (1) of 7242

Teva to buy Bentley Pharmaceuticals' generic business for $360M Philadelphia Business Journal Generic drug maker Teva Pharmaceutical Industries Ltd. agreed Monday to buy the generic pharmaceutical operations of Bentley Pharmaceuticals Inc. for $360 million. Under the terms of the deal, shareholders of Bentley of Exeter, N.H., will receive about $15 per share in cash and undisclosed shares in CPEX Pharmaceuticals, a drug-delivery business being spun off from Bentley (NYSE:BNT). Teva said Bentley focuses on selling in Spain but also operates in other European Union counties. Shlomo Yanai, Teva's president and CEO, said the combination of Teva Spain and Bentley will give Teva a "platform to capture a leading position in the fast-growing Spanish generic pharmaceutical market." Yanai said Spain was identified as one of Teva's target markets in a strategic review the company conducted last year. Teva (NASDAQ:TEVA) initially established a presence in Spain in 2004. Since then, Teva Genericos Espanola has introduced more than 60 products in the country. Based in Jerusalem, Teva's North American headquarters are in North Wales, Pa. philadelphia.bizjournals.com

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