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Teva to sell women's health assets to CVC Capital Partners: report
September 13, 2017 / 8:38 PM / in a month

Teva to sell women's health assets to CVC Capital Partners: report

FILE PHOTO: A building belonging to generic drug producer Teva, Israel's largest company with a market value of about $57 billion, is seen in Jerusalem March 23, 2010. REUTERS/Baz Ratner (JERUSALEM - Tags: HEALTH BUSINESS SOCIETY)

(Reuters) - Teva Pharmaceutical Industries Ltd (TEVA.TA) (TEVA.N) is close to a deal to sell its women’s health assets outside the United States to private equity firm CVC Capital Partners, the Fly reported, citing Bloomberg.

The assets could be valued at about $800 million, according to the Bloomberg report. (bit.ly/2y03sQx)

Israel-based Teva, the world’s largest maker of generic drugs, has been looking at divestures to help pare its $35 billion debt pile.

The company on Monday agreed to sell its contraceptive brand, Paragard, a part of its women’s health business, to a unit of Cooper Cos (COO.N) for $1.1 billion, on a day the company named industry veteran Kare Schultz as CEO.

CVC Capital was not immediately available for comment, while Teva said it does not respond to market rumors.

Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by Sriraj Kalluvila

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