Aurobindo, Intas in race for $1 billion buyout of Teva UK, submit binding offers
(WorldNews Business)

MUMBAI: Home grown drug makers Aurobindo and Intas are among the final contenders for the UK and Irish portfolio of Israeli generics behemoth Teva, put up for sale to comply with European anti-trust regulations. Both players have submitted binding offers of around $1 billion on Friday along with firm financing commitments, said multiple sources aware. Teva is selling assets as part of a broader divestiture process to comply with the anti-trust regulations for its $40.5 billion acquisition of Allergan Plc`s generics business that was announced last year. In an array of piecemeal deals in June, Teva sold around 80 products in the US to drug makers like Dr. Reddy`s, Sagent, Cipla, Zydus Cadila,...