Deals continue Teva’s bid to get rid of non-core businesses and raise cash to service its debts
Israeli generics giant Teva has agreed two deals to sell off a portfolio of women’s health products for a total of $1.4 billion (£1 billion) in cash.
Foundation Consumer Healthcare will buy four of Teva’s emergency contraception products for $675 million, while private equity firm CVC Capital Partners will take on medicines for contraception, fertility, menopause and osteoporosis for $703 million.
The deals follow Teva’s agreement earlier in September to sell off its intrauterine contraceptive device Paragard for $1.1 billion, and continues the company’s programme of selling off non-core businesses to raise money to pay off its debts. Teva has also stated it intends to sell off assets in its European cancer and pain relief businesses.