Teva Begins to Pare Its Portfolio

Teva Begins to Pare Its Portfolio

Last week, Teva Pharmaceutical Industries Ltd. (NYSE: TVA) divested more than $1.1 billion of assets in response to increasing financial pressure. Just this August, Credit Suisse lowered its rating on Teva’s stock from neutral to underperform, citing industry-wide pricing pressure for generic drugs. Credit Suisse’s announcement follows Teva’s acquisition of Allergan’s (NYSE: AGN) generic division, Anda Inc., just a year ago, for $500 million. Teva is looking to pay down more than $35 billion in debt–an amount that exceeds its market value. To do so, the Israeli drug maker has pursued divestiture opportunities for its global Women’s Health business, as well as its Oncology and... Read More »