Teva has sold the remaining assets in its speciality global women’s health portfolio for $1.38 billion.
The Israeli drugmaker said it has entered into two agreements proceeds from which, combined with those from the recently announced sale of Paragard for $1.1 billion, will be used to progress repayment of term loan debt.
The move reinforces the firm’s strategic focus on CNS and Respiratory as core global therapeutic areas of focus within Global Specialty Medicines.
CVC Capital Partners Fund VI will acquire a portfolio of products within Teva’s global women’s health business across contraception, fertility, menopause and osteoporosis sold outside the US for $703 million in cash.
Teva has also entered into a definitive agreement under which Foundation Consumer Healthcare will acquire Plan B One-Step and Teva’s value brands of emergency contraception for $675 million in cash.
“With these initial divestitures we have exceeded expectations, leveraging the tremendous value we have built within Teva’s specialty business,” noted the firm’s interim chief executive Dr Yitzhak Peterburg.
The transactions are expected to close before the end of the year, subject to customary closing conditions.