Brussels, 14/10/2011 (Agence Europe) - On Friday 14 October, the European Commission cleared the 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.
The Commission examined the effects of the planned deal on the market for drugs based on Modafinil, the main active pharmaceutical ingredient of Provigil, and the generic version developed by Teva as well as the one Cephalon has in the pipeline. The Commission was concerned that the proposed transaction, as initially notified, would have significantly reduced generic competition in the markets where Modafinil is sold. The Commission's investigation showed that the divestment of Cephalon's generic pipeline Modafinil product, as offered by the company, will allow a competitor to emerge and compete effectively with the merged entity. (OL/transl.fl)