Theramex changes hands

Monaco's Theramex is to be sold to Teva Pharmaceutical Industries.

Merck is to sell Theramex to Israeli pharmaceutical company Teva for 265 m euros. Monaco based Theramex specializes in women's health products, with 2009 sales of 100m euros in 50 countries, primarily France and Italy. It is one of the leading companies in France in menopause therapy, and has recently entered the oral contraceptive market.

Teva's CEO Shlomo Yanaiisaid has said that the deal will aid expansion into Europe.

Merck KGaA sells Theramex to Teva for 265 million euros