As part of its ‘Pivot to Growth’ strategy, generics giant Teva has announced that it intends to divest its API business, including its R&D, manufacturing and commercial activities, within 1H 2025. This is subject to finding a buyer at the right price, the company stressed.

The business sells APIs to third parties, plus certain contract manufacturing services and an out-licensing platform offering a portfolio of products to other pharmaceutical companies through its Medis affiliate. In Q4 2023, API sales were $153 million, 9% down on Q2 2022.

CDMO Flamma has acquired a third API manufacturing facility in Italy from Teva. The Sicor Bulciago site at Lecco has had multiple regulatory inspections. Terms were not disclosed.

“This allows us to rapidly enhance our CMC offerings to our customers by providing further flexibility between sites,” said CEO Dr Gianpaolo Negrisoli. “Having the ability to produce more generic APIs in Italy is in line with the European pharmaceutical strategy aiming to reshore.”