Takeda to Divest Select Diabetes Products in Japan to Teijin Pharma for $1.2 Billion
Takeda is divesting the products because they are outside of Takeda’s current business focus, which includes gastroenterology, rare diseases, plasma-derived therapies, oncology, and neuroscience.
Takeda announced on Feb. 26, 2021 that it has entered into an agreement to divest four of its diabetes products in Japan to Teijin Pharma, a Japanese pharmaceutical company, for JPY 133 billion (US$1.2 billion).
The portfolio consists of four non-core type 2 diabetes products sold in Japan: Nesina (alogliptin), Liovel (alogliptin/pioglitazone), Inisync, and Zafatek (trelagliptin), Takeda said in a company press release. Takeda is divesting the products because they are outside of Takeda’s current business focus which includes gastroenterology, rare diseases, plasma-derived therapies, oncology, and neuroscience.
“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,” said Masato Iwasaki, president of Takeda’s Japan Pharma Business Unit, in the press release. “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.”
“This announcement builds on the continued execution of Takeda’s operational and financial commitments of optimizing our portfolio for growth and paying down long-term debt, while delivering life-transforming treatments to patients worldwide,” added Costa Saroukos, chief financial officer at Takeda, in the press release. “With longstanding expertise in type 2 diabetes, we are confident that Teijin Pharma is the right partner to maximize the value of these trusted products and ensure uninterrupted patient access in Japan.”
Source: Takeda
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