International drugmaker Teva Pharmaceuticals has turned its back on its rocky deal with Mylan and hooked up with another business partner.

The abrupt about-face today redirects the $40.1 billion offered to Mylan to a $40.5 billion buyout of Allergan generics and catapults the already-top-selling generics business well ahead of its rivals.

“What we are doing here will enable Teva to be one of the winners of the ever-changing pharmaceutical industry,” CEO Erez Vigodman said in a Wall Street Journal report.

Teva, the Israeli corporation that employs 1,700 people in Chester County, will pay $33.75 billion in cash and give Allergan a 10 percent stake in its new parent company through shares currently valued at $6.75 billion. Teva currently ranks first in global generic drug sales at $9.1 billion last year, while Allergan ranks third at $6.6 billion. Mylan is fourth at $6.5 billion.

“Allergan’s 1,000 low-price products include branded generic drugs, over-the-counter medicines and generic versions of well-known pharmaceuticals such as the OxyContin pain treatment and Concerta, which treats attention-deficit-hyperactivity-disorder,” the article stated.

That bounty of new products may force Teva to sell off some in order to navigate antitrust concerns.

Teva’s breakup with Mylan stemmed from a serious rift caused by apparently opposite philosophies — and major U.S. operations on opposite sides of Pennsylvania.

As Teva escalated its offer to acquire Mylan, the Dutch company based just outside Pittsburgh maneuvered to temporarily gain control over half the company by exercising preferred stock options, the Philadelphia Business Journal reported.

“Mylan’s best interests and those of its broader stakeholder constituencies are at risk as a consequence of the uncertainty and threats associated with a possible takeover of Mylan by Teva,” the company’s foundation, Stichting Preferred Shares Mylan, said in the article. “… The Stichting has established that Mylan and Teva, although both large and successful players in the global market for generic products, have a highly dissimilar business approach, culture, financial model and related management compensation schemes.”

Teva employs 1,500 people in Chester County.

Read more about Teva’s new deal in The Wall Street Journal here and its troubled relationship with Mylan in the Philadelphia Business Journal here.