Teva reportedly considering sale of $2B Active Ingredients unit
Teva is reportedly weighing options, including a sale of its active pharmaceutical ingredient business, which is valued at $2 billion, according to a Bloomberg report.
While discussion are reportedly in the early stages, and Teva could still decide to retain the unit, a Teva spokesperson said the company regularly reviews its businesses and sees the API business contributing to growth, the report noted.
Teva’s active pharmaceutical ingredients business comprises more than 400 APIs used in drugs to treat a wide range of diseases, including migraines and diabetes.
[Read more: Teva rolls out generic Nexavar tablets]
Teva’s new CEO, Richard Francis, announced a plan in May to reduce manufacturing of certain generic treatments due to low profitability and instead concentrate on more innovative products, the report noted.
[Read more: Teva to pay Florida $6.73M to settle state’s price fixing claims]