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NEW YORK – Teva Pharmaceutical Industries Ltd. has united to acquire Cephalon Inc. for $6.8 1000000000 in a care that would provide the world's maximal generic take developer a arrange of engineering drugs aimed at cancer and another conditions.

Teva, supported in Israel, said weekday it module pay $81.50 per care cash, marking a 5.8 proportionality payment to Cephalon's approaching toll on Friday. The toll is a 12 proportionality payment to the since unloved $73-per-share substance from Valeant Pharmaceuticals International Inc., prefabricated March 29. The stylish substance represents a 39 proportionality payment to Cephalon's stock prior to Valeant's uninvited offer.

The Teva and Cephalon boards hit each approved their planned deal, which is expected to near during the ordinal quarter.

Cephalon shares chromatic $3.24, or 4.2 percent, to $80.26 in salutation trading. Teva's U.S. shares chromatic $1.61, or 3.5 percent, to $47.34.

The compounded consort would hit a portfolio of branded drugs with $7 1000000000 in period sales and more than 30 possibleness products in late-stage development.

"We are embarking today on a new and elating forthcoming for Teva's branded business, and we are delighted that we module be employed unitedly with the Cephalon team," said Shlomo Yanai, president and CEO of Teva, in a statement. "This is transforming for Teva's branded business, as it module help us to have on our strategic content of creating a diversified, multi-faceted company."

The bulk of Teva's income comes from generic drugs, but the consort does delude individual branded drugs, including the binary induration take Copaxone and the Parkinson's disease take Azilect. Cephalon's key drugs allow the sleep modify communication Provigil and the cancer take Treanda. The consort has products aimed at a panoptic arrange of conditions including pain, cancer and bicentric troubled grouping disorders.

"Clearly this acquisition is a mettlesome individual for Teva," Yanai said, adding that the care means "nothing less than the transformation of Teva's branded business."

Cephalon's late-stage utilization products allow possibleness cancer treatments, a tamper-resistant opioid painkiller, and an asthma treatment. The panoptic arrange of the scuttlebutt and current products is a key conception of Teva's strategy of growing branded take income to $9 1000000000 by 2015.

"Cephalon's merger with Teva is the termination of a rigorous impact that included a analyse of a wide-range of strategic options undertaken by Cephalon's commission of directors and direction aggroup to tap value and have momentous returns to shareholders," said Kevin Buchi, CEO of Cephalon.

On Apr 5, Frazer, Penn.-based Cephalon unloved Canada-based Valeant's $73-per-share, or $5.7 1000000000 takeover bid, occupation the substance likewise low. Valeant then touched to make the substance directly to shareholders and nominated candidates for the Cephalon's board.

In a evidence on Monday, Valeant said it is withdrawing from its motion of Cephalon.

Teva said the Cephalon buyout module provide the company's earnings a increase within the fourth lodge of closing. Teva did not interpret on any changes to direction or the impact force, but said it expects to realize outlay fund of at least $500 meg in the ordinal year mass the near of the deal.

Citi Investment Research shrink Evangelist Boris said the care makes both strategic and business significance for Teva.

"Strategically, it lessens dependence on its binary induration franchise, supports its long-term strategy and business targets, deepens its late-stage scuttlebutt and expands its global generic footprint," he said, in a note to investors.

Specifically, the care gives Teva a increase in its scuttlebutt of possibleness bicentric troubled system, cancer, and discompose treatments, he said.

Teva currently has most 40,000 employees worldwide patch Cephalon has most 4,000 employees.

The care also comes meet a hebdomad after dweller Union just regulators said they are work whether Cephalon and Teva were employed unitedly to ready a generic version of Provigil out of the dweller market. In 2005, the companies effected papers disputes relating to Provigil — which is also famous as Modafinil — in the U.K. and the U.S.

As conception of that deal, Teva united not to delude its generic version of Provigil in the EU as substantially as Iceland, Liechtenstein, and Norway before October 2012, the EU's rivalry watchdog said. The dweller Commission is today inquiring whether the care broke rivalry rules.

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