Teva sells remaining women's health assets

Israel’s Teva Pharmaceutical Industries (NYSE: TEVA) has entered into two agreements to sell the remaining assets of its specialty global women's health business for $1.38 billion, thus confirming the company’s previously-announced intention to divest these products.

Proceeds from these sales, combined with those from the recently announced sale of Paragard total $2.48 billion and will be used by Teva to progress repayment of term loan debt.

CVC Capital Partners Fund VI will acquire a portfolio of products within Teva’s global women's health business across contraception, fertility, menopause and osteoporosis for $703 million in cash. The portfolio of products, which is marketed and sold outside of the USA, includes the Ovaleap, Zoely, Seasonique, Colpotrophine and Actonel brands, and additional products. Combined annual net sales of these brands and additional products within this portfolio for the full year 2016 were $258 million.