Teva Pharmaceutical Industries Ltd (TEVA.TA) has offered concessions in a bid to ease EU regulatory concerns over its plan to purchase U.S. speciality drugmaker Cephalon Inc. (CEPH.O), the European Commission said. The Commission, the competition watchdog in the 27-country European Union, extended its deadline for a decision on the deal to Oct. 13 from Sept. 29 to assess the proposals. Teva submitted the concessions on Thursday, the Commission's daily merger list showed on Friday. In line with usual Commission policy, the publication did not provide any details of the proposals. Israeli-based Teva (TEVA.O), the world's largest maker of generic drugs, unveiled the deal in May, which will reduce its reliance on its big-selling Copaxone multiple sclerosis medicine. It is paying close to $7 billion for Cephalon.
Cephalon, Inc. is a global biopharmaceutical company dedicated to discovering, developing and bringing to market medications to improve the quality of life of individuals around the world. Shares of CEPH remained unchanged at $80.95. In the past year, the shares have traded as low as $54.15 and as high as $81.14. On average, 3326740 shares of CEPH exchange hands on a given day and today's volume is recorded at 200.
Teva Pharmaceutical Industries Limited (Teva) is a global pharmaceutical and drug company. Shares of TEVA remained unchanged at $35.39. In the past year, the shares have traded as low as $35.16 and as high as $57.08. On average, 6166480 shares of TEVA exchange hands on a given day and today's volume is recorded at 0.
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