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Report: Super-Pharm in talks for Teva plant

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Report: Super-Pharm in talks for Teva plant

Super-Pharm is in discussion to acquire Teva Pharmaceutical Industries Ltd.'s manufacturing plant in Ashdod, Israel, Reuters reported, citing a source familiar with the matter.

The pharmacy chain is expected to pay 60 million shekels to 80 million shekels for the plant and retain its 70 workers, the source added.

Teva's Ashdod plant mostly involves the preparation of liquid medications such as antibiotics and chemotherapy as well as food for premature babies.

Teva recently announced a $3 billion restructuring plan which would see the company let go of some 14,000 employees worldwide and the potential sale of a number of its assets.

As of Dec. 25, US$1 was equivalent to 3.48 New Israeli shekels.