Teva Pharma CEO Dismisses Split Speculations Expects Significant Interest For Its API Business Divestiture: Report
Portfolio Pulse from Vandana Singh
Teva Pharmaceutical Industries (NYSE:TEVA) CEO Richard Francis confirmed the company will not split into two entities, focusing on a unified approach to manage its generics and branded drugs businesses. Despite challenges, Teva remains optimistic, leveraging collaborations with Israeli universities for R&D. The company plans to divest its API business, valued at $1 billion, expecting significant interest. The divestiture is aimed to be completed in the first half of 2025, with TEVA shares currently up 0.88% at $13.14.
February 20, 2024 | 6:24 pm
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Teva Pharmaceutical Industries plans to remain unified, dismissing split speculations, and intends to divest its API business, valued at $1 billion, by the first half of 2025. Shares are currently up 0.88% at $13.14.
The decision to remain unified and the planned divestiture of the API business, valued at $1 billion, are significant strategic moves that could positively impact TEVA's financial health and operational focus. The current positive price action reflects investor optimism towards these decisions. The divestiture is expected to attract significant interest, potentially enhancing TEVA's revenue streams and reducing debt, which could lead to a more favorable market position.
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