According to sources familiar with the matter, Teva Pharmaceuticals may be about to put their cancer portfolio on the chopping block.
The Israeli drug maker is looking to reduce debt after many acquisitions and is considering selling its specialty cancer treatments. Teva acquired Allergan Plc’s generics business last year for $40 billion.
According to the sources, Teva is in talks with financial advisers about the possible sale of its oncology business. The portfolio includes treatments for leukemia and a slow-growing form of lymphoma. Teva’s oncology segment’s revenue fell 5% lat year to $1.14 billion.
As the talks are still private, the sources asked to remain unidentified. They also said that the business could attract private equity bidders and other companies and that any considerations were preliminary. Teva could still decide against a sale at this point.
According to Hebrew business daily Calcalist, Teva is also searching for a new CEO. Any major strategic decisions like a sale would have to wait until one is hired.
Teva shares are currently trading around year lows. The company had a strong fourth-quarter earnings report and is expected to deliver first quarter earnings on May 11th.
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