‘Super-Pharm in talks to buy Teva’s plant’

Israel’s largest pharmacy chain, Super-Pharm (Israel) Ltd., is in talks to acquire the Teva Pharmaceutical Industries plant in Ashdod, a person familiar with the matter said on Sunday, confirming media reports.

Super-Pharm would pay NIS 60 million-NIS 80m. ($17m.-$23m.) and is prepared to commit to continue employing the factory’s 70 workers, the source said.

Super-Pharm is interested in the pharmaceutical preparation activities that have an estimated NIS 100m. in annual sales, Globes reported.

Teva said this month it would cut its workforce by more than a quarter and give up many of its manufacturing plants, including the one in Ashdod, in a much-anticipated overhaul to help pay off its nearly $35 billion debt.

Most of the Ashdod plant’s operations involve preparing liquid medications for treatments in hospitals and homes, such as antibiotics and chemotherapy, as well as food for premature babies.

Super-Pharm, which already operates laboratories providing custom-made treatments, did not confirm the talks but said it would be interested in a deal.

“Super-Pharm would be happy to acquire Teva Medical and integrate its workforce,” Super-Pharm said. “The chain hopes to continue operations in this vital factory, which is responsible among other things for feeding premature babies in hospitals around the country.”

A spokeswoman for Teva, the world’s biggest maker of generic drugs, declined to comment.

Teva workers have been protesting the planned layoffs at various Teva facilities across the country.