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news.Teva Pharmaceutical Industries and a division of Merck KgaA, Merck Serono, have entered into a definitive agreement under which Teva will acquire Theramex and related companies from Merck Serono.
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Théramex offers a range of women’s health products sold in 50 countries worldwide. The company’s pipeline includes a new oral contraceptive based on natural estrogens, NOMAC/E2, which has completed phase III studies and submitted for approval in Europe.
As part of the agreement, Teva will have distribution rights for Theramex’ products in certain countries including Spain and Brazil.
Under the terms of the agreement, Teva will make a payment of €265m at closing.
In addition, Merck Serono will be eligible to receive certain performance-based milestone payments. Teva will fund the acquisition from its internal resources.
Teva president and CEO Shlomo Yanai said that Théramex’s diversified product portfolio, its seasoned sales force and promising pipeline will be combined with the strong R&D capabilities and product portfolio of their US women’s health business.
Merck KGaA Executive Board member and Merck Serono division president Elmar Schnee said that as Théramex is entering the contraceptive market, they firmly believe that a combination with Teva will not only contribute to growing its position in the gynecological market but also to building a major player in the area of contraceptives.
The transaction is subject to certain regulatory approval and is expected to close towards the end of this year or in early 2011.