Teva sold the products of its women’s health business for $703 million

Posted on Jan 9, 2018 by Dan Bielski

Teva sold the products of its women’s health business for $703 million

Teva Pharmaceutical Industries, (NYSE and TASE: TEVA) announced it has completed the sale of a portfolio of products within its global women’s health business across contraception, fertility, menopause and osteoporosis for $703 million in cash. The portfolio, which is marketed and sold outside of the U.S., includes Ovaleap®, Zoely®, Seasonique®, Colpotrophine®, Actonel® and additional products.  The business will be known as “Theramex”.

The announcement marks the completion of Teva’s planned divestment of specialty products in women’s health,” stated Michael McClellan, Executive Vice President and Chief Financial Officer at Teva. “Teva is very pleased to complete the sale of our global women’s health portfolio today, which brings a significant influx of cash needed to further progress our ability to repay term loan debt. With the completion of today’s transaction, Teva has generated total proceeds of $2.48 billion from the women’s health divestitures, higher than the previously announced $2.3 billion expected proceeds.”

Morgan Stanley acted as financial advisor to Teva, Ernst & Young served as accounting advisor and Goodwin Procter is Teva’s legal counsel for the transaction.

 

Rothschild & Co, Royal Bank of Canada, Jefferies LLC and Barclays acted as financial advisors to CVC Capital Partners for the transaction. Latham Watkins and Jones Day acted as legal advisors to CVC Capital Partners.


ABOUT IFI TODAY

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum

Newsline

Yes satellite company is launching fiber internet packages that include home internet plus TV services

Dec 1, 2022 by Ifi Reporter

Yes satellite company is launching fiber internet packages that include home internet plus TV services. The company promises an installation from today to tomorrow, but it should be noted that the installation is paid and that the prices do not constitute a significant line in the internet... Continue reading →

Bizavo is laying off about 100 employees - About 35% of the company's 280 employees

Dec 1, 2022 by Ifi Reporter

The technology company Bizavo, which operates in the field of conferences, is embarking on a second round of layoffs in six months. The company is laying off about 100 employees - which is about 35% of the company's 280 employees. The cuts were made in all the company's offices in... Continue reading →

Clal concludes the third quarter with a total profit of NIS 40 million

Nov 30, 2022 by Ifi Reporter

After the two largest companies in the insurance market, Migdal and Harel, presented losses - Clal concludes the third quarter with a total profit of NIS 40 million. Last year in the corresponding period, the company presented a total profit of NIS 248 million, and it ended the last nine months... Continue reading →


Testimonials

No testimonials. Click here to add your testimonials.