Teva sells Sellersville, Penn., facility to G&W Labs

3/10/2015

JERUSALEM — Teva Pharmaceuticals will sell its Sellersville, Penn., facility to G&W Labs. According to Teva, the move supports its mission of streamlining operations by reducing excess manufacturing capacity. The sale will include all buildings, land and equipment at the site. 


Under the terms of the sale, G&W will manufacture and supply products to Teva from the facility until production is transferred to a different site in Teva’s network. Additionally, G&W will also receive 25 products from Teva’s portfolio, which will be sold by G&W in the United States under the G&W label. Teva also stated that the transaction “ includes the grant to G&W of exclusive rights to sell up to two additional Teva products in the U.S. under G&W's label, which Teva will continue to manufacture at its Zagreb, Croatia facility.”


The transaction is expected to close in March or April 2015 pending regulatory review. 


“Teva is managing its operations to create greater efficiencies and position the company for long-term growth and success. We have a qualified and dedicated team at Sellersville and are pleased that we were able to come to an agreement with G&W Laboratories that will enable them to continue working in their current community,” stated Carlo de Notaristefani, president and CEO of Teva Global Operations.


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