9 July 2019 - Deborah Wilkes
PL Developments (PLD) has acquired the US store-brand portfolio of Israel's Teva Pharmaceuticals for an undisclosed sum.
The family-owned company said the deal gave it a nicotine chewing gum range, more than 40 approved and pending Abbreviated New Drug Application (ANDA) offerings, and a range of new OTC drugs.
PLD pointed out the nicotine chewing gum complemented its recently-approved nicotine lozenges. The company said it now had "one of the most comprehensive portfolios in the high-value nicotine-replacement therapy (NRT) space".
US-based PLD commented that the acquisition reinforced its position as the "second largest packer and distributor of US store-brand drugs".