Allergan announces sale of Anda distribution business to Teva Pharmaceuticals

Continues Allergan's evolution into focused brand growth pharma leader.

Anda distributes generic, brand, specialty and Over-the-Counter pharmaceutical products from more than 300 manufacturers to retail independent and chain pharmacies, nursing homes, mail order pharmacies, hospitals, clinics and physician offices across the US.

"The sale of Anda to Teva Pharmaceuticals is a strategic transaction that benefits Allergan and the employees and customers of the Anda business," said Brent Saunders, CEO and President, Allergan. "For Allergan, this divestiture continues our evolution as a focused branded Growth Pharma leader, powered by growing leadership positions across our seven therapeutic areas, developing and bringing to market innovative therapies from our industry leading pipeline, simplified operating structure and adding new development programs through our Open Science R&D model."

"The Anda team has played a supporting role in launching brand and generic products, such as Allergan's Vraylar and Liletta and Actavis' generic Crestor. Teva is one of Anda's most important suppliers, enhancing the significant strategic fit of Anda within Teva's business. We are thrilled for the employees of the Anda business, as their talents and contributions will continue to be a critical strategic element of the most important generic pharmaceuticals company in the US," added Saunders.

Until the transaction is completed, Allergan will continue to operate Anda in a business-as-usual mode, provide full support to manage the business, introduce new products and maximize its partnerships with customers.

Beginning with its second quarter 2016 earnings report, Allergan will report its Anda business as discontinued operations. For the second quarter of 2016, Anda is expected to contribute approximately $375 million in net revenues excluding sales of Allergan's branded products and approximately $0.05 in earnings per share (EPS). For the full year 2016, Anda is expected to contribute approximately $1.5 billion in third-party net revenue and approximately $0.15 in EPS.