Takeda announced that it will sell some of its over-the-counter and prescription drugs to Germany’s Stada for $660 million.
The portfolio of approximately 20 selected over-the-counter (OTC) and prescription pharmaceutical assets sold in Russia, Georgia, Azerbaijan, Belarus, Kazakhstan and Uzbekistan will be divested to Stada.
The portfolio includes OTC-vitamins and food supplements, plus selected products within the cardiovascular, diabetes, general medicine and respiratory therapeutic areas. According to Stada, included in the transaction is the key product Cardiomagnyl, a category leader in Russia, which is used to prevent blood clots, as well as the newer, patent-protected Nesina and Edarbi.
Stada says that the acquired portfolio complements its existing portfolio and capabilities in Russia that include medicines from 16 of 20 therapeutic groups of the best-selling products in retail pharmacies.
Takeda and Stada will enter into manufacturing and supply agreements in connection with the acquisition under which Takeda will continue to supply the products to Stada. The acquisition is expected to be financed by new debt financing.
Read the full Stada release