In July 2015, Allergan agreed to sell its generic drug business (Actavis Generics) to Teva for $40.5 billion ($33.75 billion in cash and $6.75 billion worth of shares). As a result, Teva dropped its pursuit of Mylan. In order for the deal to gain regulatory approval, Teva sold off a number of assets, including a portfolio of five generic drugs to Sagent Pharmaceuticals for $40 million, as well as a further eight medicines to Dr. Reddy's in a $350 million deal. Teva also sold a further 15 marketed generics, as well as three others which were close to market, for $586 million to Impax Laboratories. In July, Teva sold off a further 42 products to Australian generics company, Mayne Pharma, for $652 million; the deal moved Mayne up 50 spots, into the top-25 companies of US generic companies. As part of the deal Teva will seek to raise $20 to $25 billion through a bond sale.