Date: 2015-03-02
Type of information: Plant acquisition
Compound: Sellersville, Pennsylvania facility
Company: G&W Laboratories (USA - NJ) Teva Pharmaceutical Industries (Israel)
Therapeutic area:
Type agreement: plant acquisition
Action mechanism:
Disease:
Details: * On March 2, 2015, Teva Pharmaceutical Industries announced that it has signed an agreement to sell its Sellersville, Pennsylvania facility to G&W Laboratories, Inc. This sale supports its plans to streamline operations by reducing excess manufacturing capacity and is part of the Company\'s previously announced cost reduction program. The sale includes all buildings, land, and equipment located at the site. The Sellersville site currently produces generic drugs with a portfolio of more than 50 products manufactured as solid dose forms (tablets and capsules), liquids, creams and ointments. Under the terms of the agreement, G&W will manufacture and supply products to Teva from the site until production of these products is transferred to other sites in Teva\'s network. Additionally, G&W will offer employment to all employees located at Sellersville . The transaction includes the sale to G&W of approximately 25 products from the Teva portfolio, which will be manufactured and sold by G&W in the U.S. under the G&W label. Further, the transaction includes the grant to G&W of exclusive rights to sell up to two additional Teva products in the U.S. under G&W\'s label, which Teva will continue to manufacture at its Zagreb, Croatia facility. The transaction is expected to close in March or April 2015 , after the appropriate regulatory review and the satisfaction of certain closing conditions.
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