Teva Pharmaceutical Industries Ltd. announced it has entered into two agreements to sell the remaining assets of its global women’s health business for $1.38 billion. Proceeds from these sales, combined with proceeds from the recently announced Paragard sale total $2.48 billion and will be used by Teva to progress repayment of term loan debt.
CVC Capital Partners Fund VI will acquire a portfolio of Teva products within its global women’s health business across contraception, fertility, menopause and osteoporosis for $703 million in cash. The portfolio of products, which is marketed and sold outside of the U.S., includes Ovaleap, Zoely, Seasonique, Colpotrophine, Actonel and additional products.
Teva has also entered into an agreement under which Foundation Consumer Healthcare will acquire Plan B One-Step and Teva’s value brands of emergency contraception, Take Action, Aftera, and Next Choice One Dose for $675 million in cash.
“Today’s announcement, coupled with the recent announcement of the sale of Paragard for $1.1 billion, demonstrate Teva’s commitment to delivering on our promise to generate net proceeds of at least $2 billion from the divestiture of non-core assets,” stated Dr. Yitzhak Peterburg, Interim CEO."
Teva is reinforcing its strategic focus on CNS and Respiratory as its core global therapeutic areas of focus within Global Specialty Medicines.