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Teva Pharmaceutical completes sale of women's health portfolio to CVC Capital

Teva Pharmaceutical Industries Ltd. completed the sale of a portfolio of products within its global women's health business to CVC Capital Partners for $703 million in cash.

The portfolio includes infertility injection Ovaleap, birth control pills Zoely and Seasonique, postmenopausal drug Colpotrophine, and osteoporosis therapy Actonel.

The business will be known as Theramex.

Israeli drugmaker Teva will use proceeds to repay some of its debt.

The company has generated total proceeds of $2.48 billion from women's health divestitures, more than the $2.3 billion expected.

Morgan Stanley served as financial adviser to Teva for the transaction, while Rothschild & Co., Royal Bank of Canada, Jefferies LLC and Barclays acted as financial advisers to CVC Capital Partners.