Teva accelerates asset sales to cut debt, preserve credit rating - Bloomberg

|About: Teva Pharmaceutical In... (TEVA)|By:, SA News Editor

Bloomberg reports that Teva Pharmaceutical Industries (TEVA -0.8%) is ramping up asset sales in order to preserve its credit rating and pay down debt.

Candidates include Medis, an Iceland-based firm that develops generics for other companies, and some of its respiratory assets.

Medis could fetch $500M - $1B while the respiratory business could be valued as high as $2B, depending on which treatments are included and the value given to the pipeline.

The company aims to cut its business-choking level of debt which totaled ~$35B at the end of June.

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