Teva Pharmaceutical has completed the divestiture of a portfolio of products under its specialist global women’s health business to CVC Capital Partners for $703m.
Marketed outside the US, the range includes products such as Ovaleap, Zoely, Seasonique, Colpotrophine and Actonel across contraception, fertility, menopause and osteoporosis segments.
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This transaction is one of two definitive agreements signed by Teva in September last year to divest the remaining assets of the specialist business for a total consideration of $1.38bn.
The second deal involved Foundation Consumer Healthcare, which agreed to buy Plan B One-Step, along with emergency contraception value brands Take Action, Aftera and Next Choice One Dose for $675m.
Teva completed this transaction in November last year. Following the completion of the entire divestiture, the women’s health business will be branded as Theramex.
Teva Pharmaceutical executive-vice president and chief financial officer Michael McClellan said: “Today’s announcement marks the completion of Teva’s planned divestment of specialist products in women’s health.
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By GlobalData“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 $2.48bn from the women’s health divestitures, higher than the previously announced $2.3bn expected proceeds.”
In 2016, combined net sales of Ovaleap, Zoely, Seasonique, Colpotrophine, Actonel and additional products sold to CVC was $258m, while Plan B One-Step, Take Action, Aftera and Next Choice One Dose jointly generated $140m.
