AOK is publishing a new tender for 64 active ingredients.
The German government is publishing a new tender for active ingredients of healthcare provider Allgemeinen Ortskrankenkassen (AOK), and Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) is expected to bid and probably acquire some of it active ingredients. The €2.3 billion tender is for 64 active ingredients.
The tender will be closed on October 6. AOK has 24 million policyholders and expects to save hundreds of millions of euros on the sale.
For Teva, this is an opportunity to expand its foothold in Germany. The company had previously won some of AOK's active ingredients, but the tender was delayed in legal proceedings. AOK notes that 56 of the 64 active ingredients were put up for sale in the previous tender.
Teva is acquiring Barr Pharmaceuticals Inc. (NYSE: BRL), which has operations in Europe. Teva's market cap is $36.6 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on August 12, 2008
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