Teva seeks to sell women's health unit - report

Teva  picture: Bloomberg
Teva picture: Bloomberg

According to a report by "Bloomberg", a sale will be worth some $2 billion.

"Bloomberg" reports that Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) is considering the sale of its women's health unit. The possible move would help alleviate Teva's huge debt burden. It is estimated that a sale would be worth some $2 billion.

In 2010, Teva bought the women's health unit of Merck Serono, a subsidiary of Merck KGaA, for €265 million.

In 2014, it was reported that Teva was halting development of womens' health products in order to divert the high expenditure on this field to other areas.

Teva has hired the services of US investment bank Morgan Stanley to find a buyer, and seeks to start the sale process early next month.

Published by Globes [online], Israel business news - www.globes-online.com - on April 9, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Teva  picture: Bloomberg
Teva picture: Bloomberg
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