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Israel's Super-Pharm in talks to buy Teva plant

Super-Pharm, which already operates laboratories providing custom-made treatments, did not confirm the talks but said it would be interested in a deal

Reuters  |  Tel Aviv 

Pharmaceuticals, drugs, pharma industry, medical, health, lab

Israel’s largest (Israel) is in talks to acquire Pharmaceutical Industries’ in the coastal city of Ashdod, a source familiar with the matter said on Sunday, confirming would pay 60-80 million shekels ($17-23 million) and is prepared to commit to continue employing the factory’s 70 workers, said the source, who asked not to be named. is interested in the that have an estimated 100 million shekels in annual sales, the Globes site said. said this month it would cut its workforce by more than a quarter and give up many of its including the one in in a much-anticipated overhaul to help pay off its nearly $35 billion debt. Most of the plant’s operations involve preparing liquid medications for treatments in hospitals and homes, such as antibiotics and as well as for premature babies. Super-Pharm, which already operates laboratories providing custom-made treatments, did not confirm the talks but said it would be interested in a deal. would be happy to acquire Medical and integrate its workforce.

The chain hopes to continue operations in this vital factory, which is responsible among other things for feeding premature babies in hospitals around the country,” said. A for Teva, the world’s biggest maker of generic drugs, declined to comment. workers have been protesting the planned layoffs at various facilities across the country.

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First Published: Mon, December 25 2017. 01:42 IST
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