Teva Shopping Around Medis To Ease Debt

Aug 09, 2017

Teva is seeking a buyer for its Medis business as it continues to sells assets to ease its debts, which still total more than $32 billion.

Medis was acquired in 2016 in Teva's acquisition of Actavis, which had led to then-CEO Erez Vigodman's resignatino in February.

Reports from Bloomberg News, indicate that Medis is valued anywhere from $500 million to $1 billion.

Teva is also looking to sell its women's health and European oncology and pain businesses, which could potentially bring down its debt another $2 billion. The Israel-based drug maker plans to pay $5 billion of debt in 2017.