Press Release: Mergers: Commission approves the acquisition of Cephalon by Teva, subject to conditions

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of US-based pharmaceutical company Cephalon by the generic pharmaceutical company Teva of Israel. The decision is conditional upon the divestment of Cephalon's generic version of its "Provigil" drug. Provigil is indicated for the treatment of excessive daytime sleepiness associated with narcolepsy. Teva has also developed a generic version of the drug. In light of the commitments, the Commission concluded that the transaction does not raise competition concerns.