Teva To Sell Remaining Assets In Specialty Global Women's Health For $1.38 Bln

(RTTNews) - Teva Pharmaceutical Industries Ltd., (TEVA) announced Monday that it has entered into two agreements to sell the remaining assets of its specialty global women's health business for $1.38 billion. Proceeds from these sales, combined with proceeds from the recently announced sale of PARAGARD total $2.48 billion and will be used by Teva to progress repayment of term loan debt.

Teva has entered into a definitive agreement under which CVC Capital Partners Fund VI will acquire a portfolio of products within its global women's health business across contraception, fertility, menopause and osteoporosis for $703 million in cash. The portfolio of products, which is marketed and sold outside of the U.S., includes Ovaleap, Zoely, Seasonique, Colpotrophine, Actonel and additional products. Combined annual net sales of these and additional products within this portfolio for the full year 2016 were $258 million.

Further, Teva has entered into a definitive agreement under which Foundation Consumer Healthcare will acquire Plan B One-Step and Teva's value brands of emergency contraception, Take Action, Aftera, and Next Choice One Dose for $675 million in cash. Combined annual net sales these for the full year 2016 were $140 million.

Completion of the transactions is subject to customary conditions, including antitrust clearance in the U.S. and EU respectively, together with employee consultations.

The transactions are expected to close before the end of 2017. Until the transactions are completed, Teva will continue to market the products in the normal course.

Teva is now reinforcing its strategic focus on CNS and Respiratory as its core global therapeutic areas of focus within Global Specialty Medicines.