Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has sold the rights to three generic products to Par Pharmaceutical Companies Inc. (NYSE: PRX). Par announced that it had bought the rights to ANDAs of fentanyl citrate lozenges, a generic version of Actiq, cyclobenzaprine ER capsules, the generic version of Amrix, and the US rights to market modafinil tablets, the generic version of Provigil.
The three generic products are made by Cephalon Inc., which Teva acquired for $6.8 billion. The acquisition was completed last week.
Teva's share price was down 1.12% in morning trading on Nasdaq today to $38.85, giving a market cap of $34.62 billion. On the TASE today, the share price was down 0.14% to NIS 143.90.
Published by Globes, Israel business news - www.globes-online.com - on October 18, 2011
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