Teva’s Medis to be sold soon ($500m)

Reuters has reported that Teva’s Medis’ division developing generic drugs on behalf of third parties, headquartered in Island, is drawing interest from private equities. Teva could soon receive the first offers, expected to be of approximately $500m, according to the report. As early as 10 months ago Teva announced it planned to divest some assets in order to offset the huge debt built up by the previous management. Indebtedness decreased from $30.2bn to the current $28.4bn over the last quarter.

(Source: Reuters)