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JERUSALEM — Cephalon has another suitor in the form of the world’s largest generic drug company.

Teva Pharmaceutical Industries said Monday that it would buy Frazer, Pa.-based Cephalon for $6.8 billion, undercutting efforts by Valeant Pharmaceuticals International, which had offered $5.7 billion in March.

The boards of both companies have agreed to the acquisition, equal to $81.50 per share. Cephalon previously had turned down Valeant’s offer, prompting the Mississauga, Ontario-based company to take its case directly to Cephalon’s shareholders.

SILVER SPRING, Md. — The Food and Drug Administration has approved a new treatment for Type 2 diabetes, the agency said Monday.

The FDA announced the approval of Tradjenta (linagliptin), made by Indianapolis-based Eli Lilly and German drug maker Boehringer Ingelheim.

“This approval provides another treatment option for the millions of Americans with Type 2 diabetes,” FDA Division of Metabolism and Endocrinology Products director Mary Parks said. “It is effective when used alone or when added to existing treatment regimens.”

PARSIPPANY, N.J. — Watson Pharmaceuticals has launched a low-dose chewable contraceptive, the company said Monday.

Watson announced the U.S. commercial launch of Generess Fe (norethindrone and ethinyl estradiol chewable tablets, and ferrous fumarate chewable tablets) in the 0.8-mg/25-mcg strength.

SCOTTSDALE, Ariz. — More than 250 executives who participated in Anda’s 4th Annual Supply Chain Symposium here Thursday and Friday were treated to a keynote address from Linda Tarplin, a leading healthcare consultant and former senior White House and Department of Health and Human Services staff member.

SCOTTSDALE, Ariz. — Early Sunday morning at the National Association of Chain Drug Stores Annual Meeting, NACDS announced that in 2013 it will unify its current NACDS Marketplace Conference, NACDS Pharmacy & Technology Conference and NACDS Supply Chain & Logistics Conference into one new event, called the “NACDS Total Store Expo.” NACDS said the transformation of its conference program was based on input from member companies and a long-term vision for bringing business partners together in an innovative conference environment.

PARIS — Sanofi-Aventis on Thursday reported strong sales out of the gate for its recently switched second-generation antihistamine Allegra.

Allegra generated in excess of $26.7 million within its first month available as a nonprescription allergy treatment in the U.S. market, becoming No. 2 in terms of dollar share of allergy, the company reported.

First-quarter sales of Sanofi’s Consumer Health Care totaled $1.1 billion, representing an increase of 40.3%.

CHANDLER, Ariz. — Despite its long history of troubles, things appear to be looking up for regional supermarket chain Bashas’.

Bashas’, which operates more than 130 stores in Arizona, California and New Mexico under the Bashas’, Food City and AJ’s Fine Foods banners, announced plans Thursday for job fairs in Arizona — including in Phoenix, West Phoenix, Mesa and Tucson — where it will hire 400 new employees.

Bashas' spokeswoman Kristy Neid told Drug Store News that sales and customer counts lately had been increasing.

FLINT, Mich. — Diplomat Specialty Pharmacy president and CEO Phil Hagerman has been named the Grant Thornton Leader & Innovator of the Year, Diplomat said Friday.

WALTHAM, Mass. — Kroger now is offering its shoppers the ability to redeem SavingStar e-coupons when they use their Kroger Plus Card at checkout.

According to a press release from SavingStar, it is the only national paperless grocery coupon service, and the addition of Kroger to the SavingStar network of retailers increases the number of grocery and drug stores offering their customers digital coupons through SavingStar to more than 24,000 stores nationwide.

ATLANTA — According to a study by the Centers for Disease Control and Prevention released Wednesday, young people with diabetes face substantially higher medical costs than children and teens without the disease. The study found annual medical expenses for youth with diabetes were $9,061, compared with $1,468 for youth without the disease.

ALEXANDRIA, Va. — The National Association of Chain Drug Stores and the National Community Pharmacists Association announced on Friday that they have issued a letter to Rep. Walter B. Jones, R-N.C., expressing pharmacy's support for H.R. 1092, the Military Retirees Health Care Protection Act, which would help preserve Tricare beneficiaries' access to pharmacy-based healthcare services.

The bill, introduced by Jones, prohibits increases to retail pharmacy co-payments.