Allergan posts loss as it writes down Teva holdings

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Allergan sold its generics business Actavis to Teva in August 2016 for $33 billion in cash and 100 million shares of the Israeli generic drugmaker, worth around $5.3 billion at the time. Under the terms of the deal, Allergan agreed to hold on to the shares for at least one year. Teva has struggled since then, and the company’s chief executive stepped down in February after sharp criticism for a string of costly acquisitions and delayed drug launches.

May 10, 2017 at 06:52AM

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