Israeli drug company to purchase American producer

An Israeli drug company plans to purchase an American producer for $7.5 billion.

Teva Pharmaceuticals announced Friday its intention to purchase New Jersey-based Barr Pharmaceuticals in a purchase that, if completed, would be the largest ever by an Israeli company, Ha’aretz reported.

The $7.5 billion price tag is 44 percent above Barr’s market value. Teva is the largest generic drug maker in the world.

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