Business in Brief: October 29

Teva buys Merck Serono women’s health unit; ‘Israel Today’ could lose train distribution; Subaru importer to sell Ferrari, Maserati.

By GLOBES CORRESPONDENTS
October 29, 2010 06:11
2 minute read.
Teva Pharmaceutical Industries.

Teva Pharmaceutical Industries. . (photo credit: Ariel Jerozolimksi)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

Teva buys Merck Serono women’s health unit

Globes correspondent

Be the first to know - Join our Facebook page.


Teva Pharmaceutical Industries Ltd. has acquired Théramex and related companies, the women’s health products division of Germany’s Merck KGaA unit Merck Serono, for €265 million, plus milestone payments.

Teva will fund the acquisition from its internal resources and expects to close the deal by the end of the year or in early 2011.

Théramex offers a wide variety of women’s health products sold in 50 countries. It had €100m. revenue in 2009, including sales in the countries in which Teva will acquire distribution rights, such as Spain and Brazil. A large part of its revenue is from direct sales in France and Italy.

Théramex’s drug-development pipeline includes a new oral contraceptive based on natural estrogens, NOMAC/E2, which has successfully completed a Phase III clinical trial and been submitted for approval in Europe.

‘Israel Today’ could lose train distribution



By ANAT BEIN and LI-OR AVERBACH

Free newspaper Israel Today may lose its distribution rights at Israel Railways as early as Sunday. Serious disputes have emerged between the newspaper, owned by Sheldon Adelson, and Hedria Train Media Ltd., which owns the advertising franchise at Israel Railways, informed sources told Globes. Sources at Israel Railroads said Israel Today could be replaced by a newspaper published by Yediot Aharonot.

Until two years ago, Israel Today was distributed at train stations under a tender from Israel Railways. Distribution was later contracted to Hedria, and the agreement was renewed at the same terms for one year. Hedria is willing to maintain price levels, but Israel Today wants to lower the price, people familiar with the matter said.

Subaru importer to sell Ferrari, Maserati

By DUBI BEN-GEDALYAHU

Subaru importer Zeevi Group will market Ferrari and Maserati sports cars in Israel. The franchise to Ferrari and Maserati was awarded a few months ago to the Alon Group, an importer of heavy mechanical equipment that is new to the private-car market. Alon Group held talks with several importers over the actual sale of the brands in Israel, before choosing Zeevi Group, owned by Gad Zeevi. Zeevi Group will set up a separate subsidiary with the franchisee.

Italian carmaker Fiat Automobiles SpA owns Ferrari and Maserati, both of which target the high-end sports-car market. Starting prices for Ferraris and Maseratis are about $150,000 before taxes. The starting price of a Maserati in Israel will reportedly be NIS 1.4 million. Zeevi Group apparently obtained permission from Japan’s Subaru Motor Company for the deal. Dozens of cars are sold at this price in Israel annually.

CTV to build Israel’s largest billboard

Globes correspondent

CTV Media Ltd., owned by Fishman Holdings, is building Israel’s largest billboard, at an investment of NIS 4 million. The digital billboard will be placed at the new Cinema City complex in Rishon Lezion, and more than one million people a week are expected to see it.

The digital billboard will face Rishon Lezion’s main east-west artery, Rehov Moshe Dayan, between the Geha Highway (Route 4) and the Ayalon Highway (Route 20). An estimated 150,000 vehicles use the street daily. The billboard will also be visible to the parking lot of Cinema City, which has about 100,000 visitors during the week and 60,000 on weekends.

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection

By GLOBES, NIV ELIS