Teva Pharmaceutical Industries Ltd. and Ivax Corporation's closing date of the merger has been rescheduled. The US Federal Trade Commission (FTC) is continuing to review the consent order which Teva and Ivax signed in connection with the pending acquisition of Ivax.

The transaction cannot be closed without the acceptance of the consent order by the commissioners of the FTC. The companies, which previously said they expected the transaction to close on January 12, said they expect to close the deal later this month, states a Teva release.

Teva Pharmaceutical Industries Ltd. is among the top 20 pharmaceutical companies and among the largest generic pharmaceutical companies in the world. The company develops, manufactures and markets generic and innovative human pharmaceuticals and active pharmaceutical ingredients.

Ivax Corporation, discovers, develops, manufactures, and markets branded and brand equivalent (generic) pharmaceuticals and veterinary products in the US and internationally.