Teva Announces Planned Spin-off of TAPI, Its Global API Business

Feb 03, 2024 17:01 CST Updated 17:01

Teva

Drug Developer

On January 31, Teva announced plans to spin off its active pharmaceutical ingredients (API) business, the TAPI division. TAPI is a leader in the global small molecule API industry, with approximately 4,300 employees.

Teva stated that the divestiture of TAPI is mainly to enhance current and future revenue performance, reallocate resources to promote growth and innovation, and better serve patients. Meanwhile, the divested API company can also maximize its growth potential and continue to lead the $85 billion global API market.

The press release shows that Teva expects the divestiture to be completed in the first half of 2025, following reaching a satisfactory agreement with potential buyers on the terms of the transaction, successfully meeting the closing conditions, and obtaining board approval for the deal. However, there can be no assurance regarding the ultimate timing and structure of the potential divestiture, or that it will be agreed upon or completed at all.

Source: PharmaCube Info

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