Teva to buy Allergan Generics; Mylan off the hook but Perrigo still wriggling

Teva Pharmaceutical Industries is to acquire Allergan Generics in a transaction valued at $40.5bn. The news is the culmination of a weekend of rumors that the deal was in the offing. Teva said that as a result of the agreement, it is dropping its pursuit of Mylan. The origin of the majority of Allergan's generic pharmaceuticals is the company formerly known as Actavis.