Teva Pharmaceutical Industries said it will acquire rival Ivax Corp. for about $7.4 billion in cash and stock, a deal that will create the world's largest generic-drug company with about $7 billion in sales. Analysts said the deal was likely to create pressure on other generic-drug makers because the two biggest players, Teva and Novartis AG of Switzerland, are global behemoths dwarfing their competitors. Most analysts applauded the deal. But Standard & Poor's said it was reviewing Teva's credit rating because the company will add significant debt to finance the acquisition, ending up with $3.5 billion in debt, compared with about $1.1 billion now. -- by the Associated Press
$7.4 billion deal to create new generic-drug giant
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