Teva to spin out API business in pursuit of future growth
In a bid to focus on growth and innovation, Israeli generics drugmaker Teva Pharmaceutical Industries (NYSE: TEVA) is to hive off its active pharmaceutical ingredient (API) business.
Known as TAPI, the company is a major player in the small molecule API industry, with approximately 4,300 employees worldwide.
TAPI serves more than 1,000 clients globally, including biotech and pharma firms, with a range of around 350 products.
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