Foundation Consumer Healthcare among buyers of Teva’s women’s health brands

JERUSALEM — Teva has made two separate sales from its global women’s health business in an effort to repay term loan debt. The move follows its sale last week of its Paragard IUD.

“Today’s announcement, coupled with the recent announcement of the sale of Paragard for $1.1 billion, demonstrate Teva’s commitment to delivering on our promise to generate net proceeds of at least $2 billion from the divestiture of non-core assets,” interim Teva CEO Dr. Yitzhak Peterburg said. “With these initial divestitures we have exceeded expectations, leveraging the tremendous value we have built within Teva’s specialty business.”

The company has $675 million all-cash deal with Foundation Consumer Healthcare, which will be acquiring Plan B One-Step emergency contraception, as well as other emergency contraceptive brands Take Action, Aftera and Next Choice One Dose. The drugs had combined U.S. sales of $140 million for the full-year 2016.

Teva also has entered a deal with CVC Capital Partners, which is paying $703 million in cash for a portfolio of produts for menopause, fertility and osteoporosis. The products, all of which are sold outside the United States, include Ovaleap, Zoely, Seasonique, Colpotrophine and Actonel, among others. The products being acquired by CVC Capital Partners had combined sales of $258 million in 2016, the company said.

“Teva is extremely pleased to enter into these agreements with CVC Capital Partners and Foundation Consumer Healthcare, which progress our ability to repay term loan debt while also providing a clear path forward for these important products to continue to be available to women throughout the world,” Teva interim Peterburg said.