Teva is selling off its women’s health unit

By Catherine Sturman
Teva is not having a good financial year thus far. Suffering considerable financial losses, reaching $6 billion in recent months. The company is now sel...

Teva is not having a good financial year thus far. Suffering considerable financial losses, reaching $6 billion in recent months. The company is now selling off its women’s health unit in order to recover and reduce its debt of over $30 billion.

The company’s negative position follows on from its acquisition of Allergan Plc for over $40 billion, which has contributed to Teva’s escalating debt.

Teva’s decision and subsequent statement surrounding the sell has caused a bidding frenzy. Despite the company’s struggling forecasts and remaining rudderless without a permanent CEO at the helm, women’s health has grown in considerable value within the last five years within the healthcare industry.

Related stories

 It is unknown whether Teva will sell the business as a whole, or sell its divisions separately, as the company is also looking at selling its oncology, Medis and respiratory treatments, making this a triple blow to the company’s continuing operations.

At present, Teva is one of the largest creators of generic and branded drugs – however, sales have decreased considerably.  

Interested bidders include Church & Dwight, Cooper Companies, India’s Intas Pharmaceuticals and Astorg Partners, highlighting its international focus and desire for pharmaceutical companies to further expand their portfolios. Final bids are to be submitted at the end of this week and could reach over $2 billion.

Bank of America Corp are set to support Teva in the sale.

Share

Featured Articles

McKinsey: Women More Likely to die of Heart Attack Than Men

McKinsey Health Institute's Lucy Pérez says cardiovascular disease top killer of women yet physicians don't know their heart attack symptoms are different

Novo Nordisk Buys $1bn Cardior in CardioVascular Move

As Novo Nordisk expands into heart medicines, we profile the Danish pharma giant who in 1923 was the first to make insulin commercially available

Shoddy Chinese Syringes Sees BD Ramp-up Production

Becton Dickinson – a major supplier of syringes – said it has upped manufacturing in its US facilities after FDA warning on China-made products

AI Tool 'Picks up Early-stage Breast Cancers Doctors Missed'

Technology & AI

AstraZeneca Buys $2bn Fusion in Next-gen Cancer Drugs Move

Medical Devices & Pharma

Eli Lilly and Amazon Pharmacy Partner on Drugs Delivery

Digital Healthcare