Takeda to jettison non-core asset portfolio to Stada for $660 million
Takeda has announced it is divesting a portfolio of its over-the-counter (OTC) and prescription drug products to Stada for a total value of $660 million.
The assets involved in the deal include products in the cardiovascular, diabetes, general medicine, and respiratory therapeutic spaces, exclusively within Russia, Georgia and other countries within the Commonwealth of Independent States – areas which the company notes are part of its Growth and Emerging Markets Business Unit.
Takeda is in the midst of a drive to divest around $10 billion of nonessential assets following its merger with Shire in order to better focus on its five key business areas of gastrointestinal, rare disease, plasma-derived therapies, oncology and neuroscience, and this latest deal represents the fourth divestment to this end in the past sixth months.
In May, the company sold TachoSil to Ethicon for $400 million; in July the company jettisoned Xiidra to Novartis for $5.3 billion; and last month sold non-core assets to the value of over $200 million to Acino in countries across Near East, Middle East and Africa.
“Takeda remains committed to the Emerging Markets, Russia and the countries included in this agreement. We will continue to increase patient access to our portfolio of highly innovative medicines across this region through our commercial activities and Access to Medicines programme,” said Ricardo Marek, President of Takeda’s Growth & Emerging Markets Business Unit. “As we execute on our divestiture goals, we continue to work to ensure that each transaction aligns with Takeda’s values. We are confident that Stada is well placed to provide patients with uninterrupted access to the divested products – a top priority for Takeda – and anticipate most of the employees supporting the divested assets will be given the opportunity to transition over to Stada once the divestiture is completed.”
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