Teva Completes $675-Million Divestment of Women’s Health Products
Teva Pharmaceutical Industries has completed its previously announced $675-million sale of its emergency contraceptive, Plan B One-Step, and its value brands of emergency contraception products to Foundation Consumer Healthcare, a Pittsburgh, Pennsylvania-headquartered pharmaceutical products developer.
In September 2017, Teva agreed to sell Foundation Consumer Healthcare its Plan B One-Step and the value brands [Take Action (levonorgestrel), Aftera (levonorgestrel), and Next Choice One Dose (levonorgestrel)] for $675 million in cash. Combined annual net sales of Plan B One-Step, Take Action, Aftera, and Next Choice One Dose for 2016 were $140 million.
Teva said it continues to progress and actively pursue additional divestiture opportunities, including the previously announced agreement with CVC Capital Partners for the sale of the remaining assets of its global women’s health business. Teva expects to generate at least $2.3 billion in total proceeds from the sale of these businesses as well as additional asset sales to be executed by year-end 2017.
Source: Teva Pharmaceutical Industries