Novartis, Mylan, Cinven, Apollo Global interested in Teva drug portfolio in Iceland, Britain and Ireland
Novartis and Mylan, as well as the private equity firms Cinven and Apollo Global Management, are interested in the drug portfolio of Teva in Iceland, Britain and Ireland, according to a report in Ha'aretz.
The report, based on unidentified sources, said that Cinven and Apollo may bid up to USD 2bn for the portfolio.
The report said that the European Commission is said to have a preference for a buyer experienced in the market for generic drugs in Europe to take over the portfolios.
Teva has been looking to divest assets to get an approval to buy the generics operation of Allergan. EU regulatory authorities had given a conditional approval for Teva to buy the business, so long as it sold a substantial part of its Irish and UK business, the report added.
Ha'aretz