Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) and
acquisition target Cephalon Inc. (CEPH) each received a request to
provide additional information to the U.S. Federal Trade Commission
related to a pending $6.8 billion deal between the firms.
Israel-based Teva, which trumped a hostile offer from Valeant
Pharmaceuticals International Inc. (VRX) in agreeing to buy
Cephalon last month, said it had expected the request. The parties
have been cooperating with the FTC staff since shortly after the
bid was announced, according to Teva, which said it intends to win
clearance "as promptly as possible."
Teva on Monday said it continues to expect the deal to be
completed in the third quarter, following clearance from U.S. and
European regulators, as well as winning approval of Cephalon
shareholders.
Teva's American depositary shares were recently up 0.4% to
$49.35 in after-hours trading.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com