Teva to exit API business
As part of its ‘Pivot to Growth’ strategy, generics giant Teva has announced that it intends to divest its API business, including its R&D, manufacturing and commercial activities, within 1H 2025. This is subject to finding a buyer at the right price, the company stressed.
The business sells APIs to third parties, plus certain contract manufacturing services and an out-licensing platform offering a portfolio of products to other pharmaceutical companies through its Medis affiliate. In Q4 2023, API sales were $153 million, 9% down on Q2 2022.
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