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Actionable news in TEVA: TEVA PHARMACEUTICAL INDUSTRIES LIMITED AMERICAN DEPOSITARY SHARES,

Wal-Mart, Walgreens, CVS turn up the heat on generic drugmaker deals

(Reuters) - The largest U.S. retail pharmacies, including Wal-Mart Stores Inc and Walgreens Boots Alliance Inc, are wielding more leverage when buying generic drugs, accelerating a decline in prices likely to affect drug companies for some time, industry experts said on Thursday.

That pressure is exacerbated by efforts from U.S. health regulators to speed approval of copycat drugs, industry sources said.

The extent of the shift became clearer this week, when wholesale drug distributors Cardinal Health Inc and AmerisourceBergen Corp, as well as top global generic drugmaker Teva Pharmaceutical Industries Ltd, warned of generic price declines of as much as 9 percent through the end of the year.

The news prompted a sell off in shares of generic manufacturers and distributors. On Thursday, Teva fell 24 percent, while rival Mylan NV dropped 6 percent and AmerisourceBergen fell 10 percent. Drugmakers Perrigo Co Plc and Endo International Plc fell 5 percent and 6 percent, respectively. Since Thursday, Cardinal Health has dropped 10 percent.

Walgreens formed a drug-buying partnership with AmerisourceBergen in 2013...


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