Teva to Divest Its Active Pharmaceutical Ingredient Unit

Teva Pharmaceutical Industries will divest its active pharmaceutical ingredient (API) unit to focus on its core business, the world’s largest generic drugs maker said on Wednesday.

The API unit, which brought in revenue of $1.05 billion in 2022, makes pharmaceutical ingredients that are used in both generic and branded medicines, and serves over 1,000 clients globally.

U.S.-listed shares of the Israel-based drugmaker rose 2.3% in premarket trading. Teva is expected to report earnings later on Wednesday.

Read the source article at Yahoo Finance