"Teva bought technology and a top-quality biopharmaceutical team, with significance for the next decade."
Leader Capital Markets analyst Yoav Burgan says that Teva Pharmaceutical Industries Ltd.'s (Nasdaq: TEVA; TASE: TEVA) acquisition of CoGenesys Inc. will be expressed only in the long term, and that it is not a key acquisition for Teva.
Burgan said that Teva would not see immediate results from the acquisition of CoGenesys, in contrast to acquisitions of $1-2 billion, which "have more immediate accretive significance."
Burgan says that the $400 million price tag for CoGenesys is "mid-sized for Teva". He added that Teva bought "technology and a top-quality biopharmaceutical team, with significance for the next decade."
Published by Globes [online], Israel business news - www.globes-online.com - on January 22, 2008
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