Richard Francis, Teva CEO

Te­va plans sale of API unit amid 'piv­ot to growth'

Te­va’s drug in­gre­di­ents unit is ap­par­ent­ly not mak­ing the piv­ot.

Less than a year in­to its “piv­ot to growth” strat­e­gy, Te­va has an­nounced plans to sell off its ac­tive phar­ma­ceu­ti­cal in­gre­di­ents unit. Ru­mors have been cir­cu­lat­ing since Ju­ly about a po­ten­tial sale, which would im­pact about 4,300 API em­ploy­ees across 14 sites.

The move will al­low Te­va to fo­cus on its gener­ics and in­no­v­a­tive port­fo­lio, CEO Richard Fran­cis told in­vestors on the com­pa­ny’s fourth-quar­ter earn­ings call. Te­va has made clear that it wants to move be­yond its rep­u­ta­tion as a gener­ics gi­ant, which will in­volve cut­ting some low-mar­gin gener­ics al­ready be­ing sup­plied by oth­er man­u­fac­tur­ers and be­ing more se­lec­tive about which new gener­ics it pur­sues, Fran­cis told End­points News ear­li­er this month at the JP Mor­gan Health­care Con­fer­ence.

Endpoints News

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Life Sciences Senior Associate

General Catalyst

San Francisco, CA, USA