Goodwin’s Life Sciences team advised Teva Pharmaceutical Industries Ltd. in its definitive agreement with CooperSurgical to sell PARAGARD® (intrauterine copper contraceptive), a product within Teva’s global Women’s Health business, for $1.1 billion. The transaction includes Teva’s manufacturing facility in Buffalo, New York, which produces PARAGARD® exclusively. The transaction is subject to customary conditions, including antitrust clearance in the U.S., and is expected to close before the end of 2017. With the divestiture of PARAGARD®, Teva is reinforcing its strategic focus on the central nervous system and respiratory system as its core global therapeutic areas of focus within its Global Specialty Medicines group.
Teva Pharmaceutical Industries Ltd. is a leading global pharmaceutical company that delivers high-quality, patient-centric healthcare solutions used by approximately 200 million patients in over 60 markets every day. Headquartered in Israel, Teva is the world’s largest generic medicines producer, leveraging its portfolio of more than 1,800 molecules to produce a wide range of generic products in nearly every therapeutic area.
The Goodwin team was led by partners David Henken, Robert Crawford, Gregg Katz and Kingsley Taft, and included partner Andrea Murino; counsel Kirby Lewis; and associates Melissa Paddock, Jennifer Ford, Emily Beman, Peter Hanoian, Claudia Torres, Sarah Smith, Catherine Magazu, Chloe Pletner, Sam Davis and Courtney Allessio.
For additional details on the transaction, please read the press release.