Teva Pharmaceutical Industries Ltd. is nearing completion of a deal to purchase German pharmaceutical company Ratiopharm for a rumored 3.5 billion euros. Teva beat out bids from Pfizer and Actavis Group for the generic drug making company. Teva's stock price rose about 2.5 percent on the news. Israeli drug maker Teva has been looking for a German acquisition for several years now in order to round out European operations. Takeovers and acquisitions play into Teva's goal of doubling annual revenues to $31 billion by 2015. Teva anticipates that increasing health care costs and active politicians will push patients toward generic options. The company now expects to generate nearly $7 billion in net income five years from now, even with competition for its top selling product costing the company one billion dollars in lost revenue by that time.

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