December 19, 2008 / 5:46 PM / 11 years ago

EU clears Israel's Teva to buy Barr Pharmaceutical

BRUSSELS, Dec 19 (Reuters) - The European Commission on Friday approved Israeli drugmaker Teva Pharmaceutical’s TEVA.O planned takeover of U.S. biopharmaceutical and generic drugs marketer Barr Pharmaceuticals Inc BRL.N, subject to conditions.

“To remedy the Commission’s competition concerns in the field of cancer drugs and prescription vitamin products on a number of national markets, Teva made the commitment to divest 15 cancer drugs in the Czech Republic, Hungary, Poland, the Slovak Republic and Slovenia as well as two other drugs in Poland,” the EU executive said in a statement. (Reporting by Huw Jones, editing by Dale Hudson)

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