A brand of specialty mozzarella cheeses. A collection of natural-gas storage terminals. And America’s top-selling emergency contraception.
At a moment when half of U.S. states stand poised to outlaw or sharply curtail abortion services, the last-ditch pill for women aiming to stave off an unwanted pregnancy rests in the unlikely stewardship of two private equity firms whose investment portfolios range from Italian foods to vineyard management to children’s cough medicine.
Kelso & Co. and Juggernaut Capital Partners bought Plan B One-Step from Teva for $675 million in 2017 as the Israeli-based pharmaceutical giant was selling off its global women’s health business. In the years since, the drug has become America’s most widely used over-the-counter emergency contraception and — at an average cost of $45 per dose — one of the highest-priced over-the-counter medications sold in the U.S.
