The company said its acquisition by Teva will be closed following the spin off of its drug delivery activity.
Bentley Pharmaceuticals Inc. (NYSE: BNT), which was recently acquired by Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) for $360 million, has published its financial report for the first quarter of 2008. The company posted $40 million revenue for the quarter, of which $36.6 million was generated by its specialty generics segment, which will be transferred to Teva once the acquisition is closed, and the rest by its drug delivery activity. Net profit totaled $1.1 million, with Bentley reporting a profit of $3.2 million on its specialty generics segment and a $2.1 million loss on its drug delivery activity.
Bentley said its acquisition by Teva would be closed following the spin off of its drug delivery activity as a new company, CPEX Pharmaceuticals.
Published by Globes [online], Israel business news - www.globes-online.com - on May 12, 2008
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