Teva Pharmaceutical Industries Ltd is nearing a sale of its manufacturing site at Kiryat Shmona in Israel to German company B. Braun Melsungen AG, FiercePharma reported Oct. 10, citing Israeli newspaper Calcalist.

The plant, that makes plastic products for the pharmaceutical industry, employees about 200 people and could fetch the Israeli drugmaker up to $100 million, the head of the plant's union committee told the Israeli newspaper.

Teva Pharmaceutical said in December 2017 that it will cut 14,000 jobs globally to reduce costs of up to $3 billion by the end of 2019.

Of the 14,000 jobs, 1,750 positions are expected to be eliminated in Israel, the news outlet reported, adding that Teva declined to comment on the matter.