Teva to focus on small acquisitions, says Chairman
The world’s largest generic drugmaker, Teva Pharmaceuticals has announced it will shift its focus onto smaller acquisitions, moving away from the multi-billion-dollar acquisitions that have defined its past growth. In the last decade, for instance, Teva has made 25 acquisitions – five of which were over US $3 billion each.
“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.
“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.”
Phillip Frost, Chairman of Teva Pharmaceuticals.
Now, Teva is also considering a move into the emerging markets, such as Brazil and China, where the Israel-based company’s presence is much smaller.
On the product side, Teva’s new CEO, Jeremy Levin, plans to give investors a strategy update, dubbed “Project Spring”, on 11th December 2012 in New York, USA.
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