Linklaters is advising Accord Healthcare Limited on the purchase of the generics business of Actavis in the UK and Ireland from Teva Pharmaceutical Industries Ltd for an enterprise value of approximately £600m. The transaction is subject to regulatory approval. Accord Healthcare is a subsidiary of the Indian drug maker, Intas Pharmaceuticals.

The transaction is part of the European Commission’s anti-trust divestiture requirements arising from Teva’s acquisition of Actavis Generics. Actavis UK & Ireland is one of the leading suppliers of generic pharmaceuticals in both the UK and Irish markets with selected assets and operations across the respective markets.

The transaction is the first purchase of a British company by an Indian one since the UK’s referendum vote.

The Linklaters team was led by Corporate partner James Inglis and managing associate Andrew Webb and Head of India and Banking partner Narayan Iyer.