Takeda sells four diabetes products to Teijin Pharma for $1.25m
Takeda has entered into an agreement to transfer the assets, marketing rights, and, eventually, marketing authorisation associated with a portfolio of select non-core products in Japan to Teijin Pharma Limited, a Tokyo-based pharmaceutical company, for ¥133 billion ($1.25 million).
The four type 2 diabetes products the company is divesting – Nesina, Liovel, Inisync, and Zafatek – generated total sales of approximately ¥30.8 billion (around $290,000,000) in FY2019.
The drugs included in the asset transfer to Teijin have fallen outside of Takeda’s commercial focus – the business areas the company has chosen as part of its global long-term growth strategy are gastroenterology, rare diseases, plasma-derived therapies, oncology, and neuroscience.
The company has sustained momentum in its divestiture strategy and has exceeded its $10 billion non-core asset divestiture target. Including this transaction, Takeda has announced 12 deals since January 2019, for a total aggregate value of up to approximately $12.9 billion, and intends to use the proceeds from the sale to reduce its debt.
Masato Iwasaki, President of Takeda’s Japan Pharma Business Unit, said: “Today’s transaction enables us to sharpen our focus in Japan on developing and delivering highly-innovative products within Takeda’s five key business areas.
“We look forward to maintaining our seamless collaboration with Teijin Pharma as we continue to manufacture and supply these valued products on their behalf, and to making even greater contributions to our purpose of achieving better health and a brighter future for people in Japan and around the world.”
Costa Saroukos, Chief Financial Officer at Takeda, added: “This announcement builds on the continued execution of Takeda’s operational and financial commitments of optimising our portfolio for growth and paying down long-term debt, while delivering life-transforming treatments to patients worldwide.
“With longstanding expertise in type 2 diabetes, we are confident that Teijin Pharma is the right partner to maximise the value of these trusted products and ensure uninterrupted patient access in Japan.”
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