Takeda Pharmaceutical have entered into an agreement to divest a portfolio of select non-core prescription pharmaceutical products sold predominantly in Europe and Canada to specialty pharmaceutical company headquartered in Germany Cheplapharm. Takeda will receive an upfront payment of approximately $562 million, subject to customary legal and regulatory closing conditions.
According to Takeda, the divested portfolio is comprised of non-core prescription pharmaceutical products in a variety of therapeutic categories sold predominantly in Europe and Canada. This includes cardiovascular/metabolic and anti-Inflammatory products along with calcium. The portfolio generated 2019 net sales of approximately $260 million. Takeda says the products included in the sale are outside of its five key business areas. In April, Takeda announced plans to divest EUCAN’s non-core over-the-counter (OTC) products to Orifarm Group.
"These divestments represent another important milestone in our portfolio simplification and optimization strategy as we position Takeda for continued success across our five key business areas: gastroenterology (GI), rare diseases, plasma-derived therapies, oncology and neuroscience," said Giles Platford, president, EUCAN, Takeda.
Last month, Takeda announced an agreement to divest Takeda Consumer Healthcare Company Limited to Blackstone for approximately $2.3 billion. In June, Takeda agreed to divest a portfolio of non-core assets sold exclusively in the Asia Pacific region to Celltrion for up to $278 million; in April, Takeda announced the sale of non-core OTC products in Europe to Orifarm Group for up to approximately $670 million, including the sale of two manufacturing sites in Denmark and Poland; and in March, Takeda announced the sale of non-core products in Latin America to Hypera Pharma for $825 million, as well as completed the previously announced sales of non-core assets spanning the Russia-CIS region to STADA and in countries spanning the Near East, Middle East and Africa region to Acino.
There are no anticipated employee transfers in connection with this transaction. The transaction is expected to close by the end of Fiscal Year 2020.
Read the full Takeda release