As part of the approval, Teva will sell two Abbreviated New Drug Applications (ANDA) for its generic versions of Cephalon drugs: cancer treatment Actiq and muscle relaxant Amrix. According to IMS Health data brand Actiq has $173 million in annual sales in the US, and Amrix has $125 million. Teva will also grant its non-exclusive US rights to its generic version of Cephalon's Provigil to a third party. Provigil has $1.1 billion in annual US sales. Provigil is a treatment for improving wakefulness in people with sleep apnea and narcolepsy.
Teva and Cephalon are still waiting for approval of the merger by the EU European Antitrust Commission, after which they expect to close the merger by October 14.
Teva's share price fell 2.2% on Nasdaq on Friday to $36.75, giving a market cap of $34.5 billion, and fell 1.4% in morning trading on the TASE to NIS 137.80.
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