Teva Pharma buying MicroDose Therapeutx for $40M
Teva Pharmaceutical purchasing MicroDose Therapeutx for $40M to add more respiratory products
NEW YORK (AP) -- Teva Pharmaceutical Industries Ltd. said Monday that it is buying MicroDose Therapeutx for $40 million to build its pipeline of respiratory products.
Teva, based in Israel, is one of the world's largest makers of generic drugs. It also makes branded medicines.
As part of the deal for MicroDose, Teva will pay up to $125 million more if certain regulatory and development targets are met.
MicroDose, which is privately held, concentrates on inhalation technologies and products for lung diseases and infections. It was founded in 1998 and is based in Monmouth Junction, N.J.
U.S.-traded shares of Teva added 20 cents to $39.28 in Monday afternoon trading.
