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Home Press Statements

Global Women’s Health Divestiture to CVC Capital Partners completed declares Teva

Content Team by Content Team
8th February 2018
in Press Statements, Research & Development

Teva Pharmaceutical Industries Ltd. announced it has completed the sale of a portfolio of products within its global women’s health business across contraception, fertility, menopause and osteoporosis for $703 million in cash. The portfolio, which is marketed and sold outside of the U.S., includes Ovaleap®, Zoely®, Seasonique®, Colpotrophine®, Actonel® and additional products. The business will be known as “Theramex”.

“Today’s announcement marks the completion of Teva’s planned divestment of specialty products in women’s health,” stated Michael McClellan, Executive Vice President and Chief Financial Officer at Teva. “Teva is very pleased to complete the sale of our global women’s health portfolio today, which brings a significant influx of cash needed to further progress our ability to repay term loan debt. With the completion of today’s transaction, Teva has generated total proceeds of $2.48 billion from the women’s health divestitures, higher than the previously announced $2.3 billion expected proceeds.”

Morgan Stanley acted as financial advisor to Teva, Ernst & Young served as accounting advisor and Goodwin Procter is Teva’s legal counsel for the transaction.

Rothschild & Co, Royal Bank of Canada, Jefferies LLC and Barclays acted as financial advisors to CVC Capital Partners for the transaction. Latham Watkinsand Jones Day acted as legal advisors to CVC Capital Partners.

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