OSAKA, Japan--(BUSINESS WIRE)--Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced the completion of its previously-announced sale of a portfolio of select prescription products to Cheplapharm for a total value of $562 million USD1. The portfolio includes 16 prescription pharmaceutical products sold predominantly in Europe which is part of Takeda’s Europe and Canada Business Unit. This divestment agreement was first announced in September 2020.
The divested portfolio is comprised of non-core prescription pharmaceutical products in a variety of therapeutic categories that includes Cardiovascular/Metabolic and Anti-Inflammatory products along with Calcium. In line with Takeda’s long-term growth strategy, these products, while addressing key patient needs in these countries, are outside of Takeda’s five core business areas: Gastroenterology (GI), Rare Diseases, Plasma-Derived Therapies, Oncology and Neuroscience.
Takeda remains focused on executing its long-term growth strategy to optimize our business mix around our key business areas, and simplifying our operations to better serve patients by delivering innovative treatments in these areas.
The Company intends to use the proceeds from the sale to reduce its debt and accelerate deleveraging towards its target of 2x net debt/adjusted EBITDA within Fiscal Years 2021–2023.
Takeda has sustained momentum in its divestiture strategy in 2020 and exceeded its $10 billion non-core asset divestiture target, announcing 11 deals since January 2019 to date for a total aggregate value of up to approximately $11.6 billion, including agreements to divest:
- Takeda Consumer Healthcare Company Limited to Oscar A-Co KK, a company controlled by funds managed by The Blackstone Group Inc. and its affiliates for a total value of approximately JPY 242.0 billion ($2.3 billion USD).
- Other non-core portfolio assets within the Growth & Emerging Markets Business Unit, totaling up to approximately $2.3 billion with five separate buyers.2
- Select OTC and non-core assets in Europe to Orifarm for up to approximately $670 million.
- The TachoSil Fibrin Sealant Patch to Corza Health, Inc. for approximately €350 million.
About Takeda Pharmaceutical Company Limited
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to discover and deliver life-transforming treatments, guided by our commitment to patients, our people and the planet. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Genetic and Hematology, Neuroscience, and Gastroenterology (GI). We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people's lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline.
Our employees are committed to improving quality of life for patients and to working with our partners in health care in approximately 80 countries.
For more information, visit https://www.takeda.com.
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1 Based on the agreed price of 475 million EUR, and exchange rate at the time of the agreement in September 2020
2 Includes agreement with Hasten Biopharmaceutic (China) for the sale of non-core products in China, Hypera S.A. for the sale of select non-core products in Latin America which remain subject to close; and, completed sales of non-core assets in the Russia-CIS region to STADA, the Near East, Middle East and Africa region to Acino, and Asia Pacific to Celltrion Inc.