Teva Pharmaceutical Industries is always on the lookout for a good buy. And this time, the Israeli company is looking to build up its women's health business, scouting about for products to help grow that segment to $1 billion in annual sales.
That's triple what Teva does in that market right now. About $650 million of that amount is likely to come via acquisition of contraceptive products from other drugmakers, Bloomberg reports.
Teva CEO Shlomo Yanai has said that his company is eyeing several buyout opportunities, although he hasn't named names (yet). One analyst identified two possibilities: Merck's women's health division and Abbott's women's health business. Those two companies wouldn't comment for Bloomberg, but Bill Marth, CEO of Teva North America, tells the news service, "We wouldn't rule anything out."
Teva has augmented its women's health business via acquisition before: When it bought Barr Pharmaceuticals in 2008, it acquired that company's Plan B product, the emergency contraceptive known as the "morning after pill."
- read the Bloomberg piece