CVC Capital Partners ("CVC") today announced that CVC Fund VI has agreed to acquire Teva Pharmaceutical Industries Ltd's ("Teva") International (non-US), Women's Health assets. The transaction covers products sold in over 50 countries globally, for a cash value of $703 million.
Headquartered in Israel, Teva is one of the world's largest generic medicines producers, leveraging its portfolio of more than 1,800 molecules to produce a wide range of generic products. The acquired portfolio consists of over 20 specialty women's health products, which span various life stages, ranging from contraception, fertility, menopause and osteoporosis, and includes brands such as Zoely, Seasonique, Leeloo, Ovaleap, Colpotrophine and Actonel.
CVC Funds' recent investments in the pharmaceutical space include Alvogen, a rapidly growing international pharmaceutical company with expertise in complex-to-manufacture injectables and biosimilar products, and Doc Generici, a leading generic pharmaceuticals company based in Italy. More broadly, CVC Funds have successfully invested in QuironSalud, a leading Spanish provider of healthcare services; Elsan, a leading French private hospital operator; Vitalia Home, one of Spain's largest national groups in the management of social and sanitary services and centres; and, Metropolitan Hospital Group, one of the largest private hospitals in Greece.
Cathrin Petty, Partner and Head of European Healthcare at CVC, commented: "We are very excited about the acquisition of this portfolio of dedicated women's healthcare products. Women's Health is a c.$30bn global industry and we look forward to expanding and investing in this portfolio to address an increasing number of women's health issues. Using our sector expertise and industry network, we will aim to transform this portfolio into a leading global women's healthcare platform through further investments and acquisitions."
The transaction is expected to close in 2017.
CVC was advised by Rothschild, Royal Bank of Canada, Jefferies and Barclays. Teva was advised by Morgan Stanley.