The country's largest pharmacy store chain Super-Pharm (Israel) Ltd. is in talks to acquire Teva Pharmaceutical Industries Ltd's. (NYSE: TEVA; TASE: TEVA) Ashdod plant. As part of the acquisition, Super-Pharm, controlled by Leon Koffler, is prepared to commit to continue employing the factory's 70 workers and maintain most current activities.
Super-Pharm is not interested in all Teva's activities in Ashdod but only the pharmaceutical preparations activities that have an estimated NIS 100 million in annual sales revenue. Most of the plant's operations revolve around preparing liquid medications for treatments in hospitals and homes such as antibiotics and chemotherapy as well as food for premature babies, which makes the factory a vital strategic asset.
Super-Pharm already investigated the possibility of becoming a partner in the factory last year but Teva broke off the talks. Super-Pharm is currently exploring outright purchase of the factory and not becoming a partner.
This is an area that Super-Pharm already operates in through its subsidiary Super-Pharm Professional, which operates laboratories preparing 'tailor-made' treatments as specified by doctor's prescriptions for consumers in a range of areas that do not justify mass commercial production. This is a field that involves working with doctors and the purchase of Teva's plant will strengthen Super-Pharm's activities in the sector.
Super-Pharm said, "The company would be delighted to acquire Teva Medical and take in its workforce. The chain hopes to continue operations in this vital factory, which is responsible among other things for feeding premature babies in the various incubators around the country, and to integrate it into the laboratory operations of Super-Pharm Professional."
Published by Globes [online], Israel business news - www.globes-online.com - on December 24, 2017
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