Generic drugmaker Teva makes $40 billion offer for rival Mylan

April 21, 2015 2:56 PM

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Generic drugmaker Teva makes $40 billion offer for rival Mylan

NEW YORK (Reuters) - Generic drugmaker Teva Pharmaceutical Industries Ltd. on Tuesday proposed buying Mylan for $40 billion, saying it was a better deal than the smaller rival's offer to buy Perrigo Co.

The bid comes after weeks of speculation that Teva, the world's largest generic company, would make a bid for Mylan.

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