Teva Pharmaceutical Industries (TEVA) announced Thursday morning that it entered into a definitive agreement to acquire ratiopharm for an enterprise value of €3.625 billion. Teva expects to complete the transaction by year-end 2010.
Teva Pharmaceutical gapped open sharply higher Thursday, but was range-bound for the majority of the session. The stock closed up by $2.07 at $62.01 on strong volume. Teva climbed past the upper end of a 2 1/2 week range and set a new high for the year.
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