The acquisition provides the Israeli company with opportunities for product development, brand recognition and increased traffic.
The Indian software giant has been rocked by allegations that it deliberately overpaid for Panaya in 2015.
The Canadian therapeutics firm will pay $10 million plus shares and $20 million in milestone payments for the Israeli GvHD treatment developer.
Benny Landa's metallized graphics is a sustainable alternative to foil-transfer processes, enabling metallization graphics at up to half the cost of conventional foil stamping.
Delek Group and Yango Investment predicted the sale would be closed by March 31 this year.
Some analysts see distress signals in Teva's 2017 outlook, but most still recommend "Buy".