Israeli pharma group, Teva Pharmaceutical Industries Ltd, has published that it has entered into two agreements to sell off its remaining women’s health assets for $1.38 billion.
The announcement comes after the sale of Paragard, which combined with the proceeds from its latest sale, totals $2.48 billion and will go towards paying off its debts.
CVC Capital Partners Fund VI will pay $703 million in cash to acquire a portfolio of contraception, fertility, menopause and osteoporosis products from Teva’s global women’s health business. Foundation Consumer Healthcare will pay $675 million in cash to acquire Teva’s emergency contraception, including Plan B One-Step.
Today’s announcement, coupled with the recent announcement of the sale of PARAGARD® for $1.1 billion, demonstrates Teva’s commitment to delivering on our promise to generate net proceeds of at least $2 billion from the divestiture of non-core assets. With these initial divestitures, we have exceeded expectations, leveraging the tremendous value we have built within Teva’s specialty business.
Dr. Yitzhak Peterburg, Interim CEO.
Teva Pharmaceutical Industries Ltd is headquartered in Israel and provides high-quality healthcare solutions globally to approximately 200 million patients.