Teva sells its only manufacturing plant in Russia

Israel’s generics giant Teva Pharmaceutical Industries (NYSE: TEVA) has agreed to sell its only production facility in Russia to the local drugmaker R-Pharm, according to recent statements by a spokesman for Teva and some local media reports.

Under the terms of the deal, the Israeli company will sell its plant, which is located on an area of 13,000 square meters in the Yaroslavl region, reports The Pharma Letter’s local correspondent.

The plant has the capacity to produce up to 2 billion tablets per year, and is considered among the largest pharmaceutical facilities in Central Russia.