First revealed back in September 2020, Takeda have announced the completion of its sale of a portfolio of select prescription products to Cheplapharm for a total value of $562 million.
The portfolio includes 16 prescription pharmaceutical products sold predominantly in Europe which is part of Takeda’s Europe and Canada Business Unit.
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. According to Takeda, these products, while addressing key patient needs in these countries, are outside of Takeda’s five core business areas of Gastroenterology (GI), Rare Diseases, Plasma-Derived Therapies, Oncology and Neuroscience.
The company plans 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 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 and other non-core portfolio assets within the Growth & Emerging Markets Business Unit, totaling up to approximately $2.3 billion with five separate buyers. It also plans to divest select OTC and non-core assets in Europe to Orifarm for up to approximately $670 million as well as the TachoSil Fibrin Sealant Patch to Corza Health for approximately €350 million.
Read the Takeda statement