“The Australian Financial Review” today mentioned Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) as a possible buyer of Mayne Pharma Ltd. (ASX:MYP) for AU$2 billion (US$1.5 billion).
“The Financial Review” cited unnamed sources as saying that the takeover approach was made by one of Mayne Pharma’s offshore rivals, the leading contender being Chicago-based Hospira Inc. (NYSE:HSP), a former arm of Abbott Laboratories (NYSE:ABT). Switzerland’s Novartis Pharmaceuticals AG (NYSE: NVS; LSE: NOV; SWX: NOVZ) was also cited as a possible buyer of the company.
In a statement to the Australian Stock Exchange, Mayne Pharma said, “The company is in negotiations concerning a possible acquisition of the company.”
In November 2005, generic drug maker Mayne Pharma was spun off from Mayne Group Ltd. (renamed as Symbion Group Ltd. (ASX:SYB)). Mayne Pharma’s share rose 5.85% yesterday, before trading in the share was stopped as a result of the company’s notice to the stock exchange.
Yesterday, Mumbai-based “Moneycontrol.com” of Mumbai, quoted Regent Drugs managing director V.K. Batra as saying that Teva may not go in for any acquisitions in the Indian pharmaceuticals sector at least for the next couple of years. Regent Drugs Ltd. is a Teva subsidiary.
Published by Globes [online], Israel business news - www.globes.co.il - on September 20, 2006
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