Israel’s public-sector labor union staged a strike yesterday to protest Teva Pharmaceuticals‘ (NYSE:TEVA) move to cut more than 25% of its global workforce in an effort to restructure the company. Teva is one of Israel’s largest companies and its decision to close an Israel-based manufacturing site and slash jobs has angered groups in Israel, who point the […]
Teva Pharmaceuticals
Teva to slash 14,000 jobs in restructuring effort
Shares in Teva Pharmaceuticals (NYSE:TEVA) climbed 12% this morning after the company announced it plans to cut more than a quarter of its global workforce, suspend its dividend and shut down research facilities and factories. The drug-maker, which appointed a new CEO and management team this year, is looking to restructure and pay down debt. Get the […]
Teva closes Plan B emergency contraception sale in $2.3B restructuring effort
Teva Pharmaceuticals (NYSE:TEVA) said today that it closed the $675 million cash sale of its Plan B One-Step product and emergency contraception assets to Foundation Consumer Healthcare. The move is part of Teva’s efforts to restructure its business, narrowing its focus on CNS and respiratory conditions. The company also plans to divest of its oncology and […]
Teva closes Paragard sale to CooperSurgical
Teva Pharmaceuticals (NYSE:TEVA) said today that it closed the $1.1 billion cash sale of its Paragard intrauterine copper contraceptive device to Cooper Cos.‘ (NYSE:COO) CooperSurgical unit. The deal included Teva’s manufacturing facility in Buffalo, N.Y., the pharma company reported. The move is part of Teva’s efforts to restructure its business, narrowing its focus on CNS and respiratory […]
Texas judge rules Allergan’s Restasis patents invalid
U.S. judge William Bryson ruled that patents covering Allergan‘s (NYSE:AGN) Restasis medicine are invalid on the grounds of obviousness, driving the company’s shares down more than -6% in afternoon trading today. The decision, made in a Texas federal court, is part of an ongoing case between Allergan and generic drugmakers like Mylan (NSDQ:MYL) and Teva Pharmaceuticals (NYSE:TEVA). Get the full story […]
Allergan settles Restasis patent challenge after moving patents to Native American tribe
Allergan (NYSE:AGN) said yesterday that it inked a deal with InnoPharma to settle a patent challenge over Allergan’s dry eye drug, Restasis. InnoPharma is one of four companies challenging Allergan’s patents to its eye drop product. The group also includes Mylan (NSDQ:MYL), Teva Pharmaceuticals (NYSE:TEVA) and Akorn Inc. (NSDQ:AKRX) – all of which are challenging the Restasis patents in federal court. Get the full […]
BioDelivery Sciences, Teva settle patent fight over opioid dependence treatment
BioDelivery Sciences (NSDQ:BDSI) said today that it inked a deal with Teva Pharmaceuticals (NYSE:TEVA) to settle claims that the generic form of BioDelivery Sciences’ Bunavail buccal film that Teva is trying to bring to market in the U.S. infringes upon several patents owned by the Raleigh, N.C.-based company. As part of the deal, which was reached in the […]
Teva sells off the rest of its women’s health assets in $2.5B deal
After the company divested its Paragard intrauterine device assets for $1.1 billion in cash last week, Teva Pharmaceuticals (NYSE:TEVA) announced today that it plans to sell off the rest of its global women’s health biz. Combined with proceeds from its Paragard deal, the sale of Teva’s global women’s health assets will total $2.48 billion, the company reported. Teva said […]
Teva deals Paragard IUD assets to Cooper Cos. for $1B
Cooper Cos. (NYSE:COO) said today it inked a deal to purchase the Paragard intrauterine device assets and business, including a Buffalo, N.Y.-based factory, from Teva Pharmaceuticals (NYSE:TEVA) for $1.1 billion in cash. The deal has been unanimously approved by both Teva and The Cooper Co.’s boards of directors, and is expected to close prior to the end of 2017, […]
Investors sue Teva over $41B Actavis deal
Teva Pharmaceuticals (NYSE:TEVA) and a handful of current and former executives were hit with a lawsuit yesterday alleging that the drugmaker hid the negative fallout linked to its $40.5 billion purchase of Actavis Generics. Barry Baker, a Teva investor, claimed that the company, former CEO Erez Vigodman, ex-CFO Eyal Desheh and interim CEO Yitzhak Peterburg issued […]
House Dems launch MS drug pricing probe
Democrats from the House Committee on Oversight and Government Reform have sent letters to seven drugmakers as part of an investigation into why prices for multiple sclerosis drugs have nearly quadrupled since 2004. Reps. Elijah Cummings (D-Md.) and Peter Welch (D-Mass.) penned inquiries to Bayer, Biogen, EMD Serono, Novartis, Roche, Sanofi-Aventis and Teva Pharmaceuticals. Get […]