Teva agrees takeover of Merck Serono business Theramex

Teva has announced that it has signed a deal with Merck Serono to acquire the women's health business Theramex.

Under the terms of the agreement, Teva will pay 265 million euros (230 million pounds) and a number of subsequent milestone fees to gain control of Theramex and related companies from the Merck KGaA group.

This gives Teva access to a portfolio of products that generated revenues of 100 million euros in 2009, with the company conducting operations in around 50 countries worldwide.

It also gains the rights to NOMAC/E2, a promising new oral contraceptive based on natural oestrogens which has been submitted for EU regulatory approval, having already completed phase III testing.

Shlomo Yanai, Teva's president and chief executive officer, said: "Together the global team will accelerate the expansion of our women's health franchise into key growth markets in Europe and around the world, and provide an excellent springboard for future sales."

This week, the generic medicine specialist also published its financial report for the third quarter, reporting record-breaking sales of $4.3 billion (2.7 billion pounds).