Following the series of shocks suffered by Teva Pharmaceutical Industries Ltd.'s (NYSE: TEVA; TASE: TEVA) share recently, reports are appearing in the foreign media that investment funds Cerberus Capital Management and Advent International were considering bidding for the acquisition of Teva's assets in Europe: its oncology and pain treatment divisions. According to the Bloomberg news agency, these activities are worth $700 million-$1 billion. RELATED ARTICLES Check Point overtakes Teva to become Israel's most valuable company Teva parties as share price plunges to new low The reports also indicate that Cerberus and Advent are likely to face competition from pharma companies, such as Mylan N.V. (Nasdaq: MYL; TASE: MYL) and Novartis AG (NYSE:NVS; LSE: NOV; SWX: NOVZ), which are likely to make their own bids. The final bids are expected in the coming weeks. Teva confirmed to Bloomberg last week that it was considering the sale of Medis, its Icelandic unit, which develops generic drugs for other companies. Teva is endeavoring to reduce its $35 billion debt incurred in the acquisition of Actavis, the generics division of Allergan. Published by Globes [online], Israel Business News - www.globes-online.com - on August 15, 2017 © Copyright of Globes Publisher Itonut (1983) Ltd. 2017
