US healthcare and consumer product makers Church & Dwight Co. and Cooper Cos. are likely to bid for Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) women’s health assets, according to people familiar with the matter, "Bloomberg" reports.
"Bloomberg" adds that bids of $2 billion or more for Teva’s women’s health portfolio could be $2 billion or more, could be sumitted by next week, citing "people asking not to be identified because the deliberations are private."
The ailing Israeli pharmaceutical company may sell the unit as a whole or divide the US and European assets after bidders showed interest in different parts of the unit, the sources told "Bloomberg."
Other potential bidders for women’s health named by "Bloomberg" include India’s Intas Pharmaceuticals Ltd. and French buyout firm Astorg Partners, as well as CVC Capital Partners, Apollo Global Management LLC, Avista Capital Partners, Thomas H. Lee Partners, Apax Partners, TPG Capital, Pierre Fabre SA and Chemo Group.
All the parties involved declined to comment.
Teva desperately needs to reduce the debt of $35 billion it assumed when acquiring Allergan's generics division Allergan last year. Over the past two years, and especially the past month, Teva's share price has plummeted with its market cap falling from $70 billion to just $17.5 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on August 22, 2017
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