An Israel-based pharmaceutical business said Monday that it is acquiring the parent company of Brooklyn Park-based Cima Labs in a $6.8 billion deal.
It was unclear if the deal between Israel's Teva Pharmaceutical Industries and the Philadelphia-area biopharmaceutical business Cephalon Inc. would have any impact on Cima's 225 workers.
A Cephalon spokeswoman said information wasn't available on the acquisition's impact on Cima Labs. Cephalon paid $515 million in 2004 for Cima, which develops drug delivery technologies.
Teva is paying $81.50 a share for Cephalon. Teva CEO Shlomo Yamai called the deal "transforming" and said the combined product portfolio will enhance the company's profitability.
Cephalon shares rose $3.09 to $80.11.
WENDY LEE
