.jpg)
The worlds largest generic drug maker, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA), is looking to sell its Medis business branch in order to help cut debts.
After a poor second quarter results, which resulted in shares plummeting the past week, Teva is preparing to cut its debts down. Teva acquired Medis last year in a deal with Actavis.
“Teva is looking at every opportunity to focus our business and streamline operations, processes and structure,” Teva said in an emailed statement to Reuters. “As part of this process, a decision has been made to initiate the potential divestiture for our Medis business.
Bloomberg News said that Medis would be valued at anywhere from $500 million to $1 billion. It also…
Read the full article at: http://www.financialbuzz.com/teva-to-sell-medis-business-to-help-cut-debt-847338