China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
Teva says it may divest animal health business
NEW YORK/TEL AVIV (Reuters) - Teva Pharmaceutical Industries Ltd (TEVA.O) (TEVA.TA) said on Monday it is exploring strategic alternatives for its animal health business, including a possible divestiture.
The decision follows a strategic review the company conducted in 2007, the world's biggest generic drugmaker said in a statement.
Teva's animal health business develops, manufactures and markets proprietary and generic animal health products, principally in the United States and Israel. The business also markets some of its products internationally.
"Our animal health business has a strong and broad portfolio of products with excellent leadership and good growth prospects for the future," said Shlomo Yanai, Teva's president and chief executive.
"Nevertheless, we believe it is the right time for us to explore strategic alternatives for this business as we focus on Teva's core business to maximize our long-term growth potential."
Teva has retained Bear, Stearns & Co. as its financial advisor to assist in the possible sale.
(Reporting by Tova Cohen; Editing by David Holmes)
