Teva will receive $700 million from Allergan

| By | Allergan, Pharmaceutical Deal, TEVA

Allergan PLC, headquartered in Dublin, Ireland, a global pharmaceutical company, will pay Teva Pharmaceutical Industries Ltd. $700 million to dismiss a dispute between the two companies.

The two companies have been involved in a working capital dispute, and Teva has previously suggested adjustments of $1.4 billion and $1.5 billion, according to an Allergan financial filing from November.

Teva will use the payment, which is expected during the first quarter of 2018, to repay part of its debt. Teva and Allergan agreed to jointly dismiss the working capital dispute arbitration.

SOURCE: marketwatch
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