Teva/Novopharm merger update
Executive Summary
Teva has signed a letter of intent to acquire the privately-held Canadian generic firm Novopharm, Ltd. for 4.8 mil. shares of Teva common stock (valued at approximately $264 mil.). However, completion of the agreement awaits "the resolution to Teva's satisfaction of certain issues now pending before a Canadian court relating to the scope and duration of an existing injunction against Novopharm." Teva is "hopeful that a court decision will be rendered within the next few months"