Teva Pharmaceutical Industries (TEVA) and Allergan (AGN) have agreed to extend the outside date of their deal to October 26 from July 26 (this is the date that the closing must occur). Other amendments include increasing the base working capital adjustment by at least $650M (up to $800M under certain circumstances), adding Actonel (authorized generic) and Carafate (authorized generic) to the list of excluded products and a reduction in the cash consideration to be paid by $221M. Teva also made a corporate presentation today. CEO Erez Vigodman highlighted the benefits of the AGN transaction, including an expected $1.4B in cost synergies and tax savings by the end of 2019. Other pluses by the end of 2019 are: accretion in non-GAAP EPS of 19%, more than $25B in cumulative free cash flow and a return on invested capital of 9.3%.Revenue is expected to increase from 19.7B in 2015 to $26.7B - 27.8B in 2019 (9% CAGR based on the midpoint). EBITDA should grow from 6.6B to $10.7B - 11.5B (14% CAGR). Net income is also expected to deliver a CAGR of 14%($5.42B to $7.5B - 8.1B). CAGR of free cash flow is expected to be 11% ($4.9B to $7.2B - 7.8B). Based on recent amendments with Allergan, Teva's net cost of the deal has dropped from $40.1B to $35.1B, reducing its net financing needs to $23B from $27B. It net debt at closing will be $34B instead of $38B. Based on expected free cash flow, Teva sees its net debt dropping to $12.7B by the end of 2019.