Teva Pharmaceutical Industries Ltd. said Monday it has agreed to sell its specialty global women’s health business assets for $1.38 billion. The drug maker plans to use the proceeds of the sale, combined with the $1.1 billion it received from the recent sale of its Paragard IUD asset announced last week, to pay down debt. In Monday’s deal, Teva is selilng a portfolio of products in contraception, fertility, menopause and osteoporosis to CVC Capital Partners Fund VI for $703 million, and its Plan B One-Step and emergency contraception brands to Foundation Consumer Healthcare for $675 million. Teva said its recent moves reinforce its focus on central nervous system and respiratory areas. The stock, which rose 0.6% in premarket trade, has tumbled 41.5% over the past three months through Friday, while the SPDR S&P Pharmaceuticals ETF has gained 3.5% and the S&P 500 has tacked on 2.8%.
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