Teva plans to acquire Barr for $7.6 billion; Roche plans to take over Genentech at $89 a share
The dog days of summer are usually quiet, but not this year. Merger and acquisition activity is at a high level. Teva announced that it is planning to acquire Barr for $7.6 billion. The deal, if approved, will further strengthen Teva's position as the No. 1 generic drug company in the world. Teva hopes to complete the deal before the end of this year. On another front, Roche, which already owns about a 56% stake in Genentech, reported that it plans to gobble up the rest of the biotech company at $89 a share. Genentech executives were reportedly blindsided by the offer.