Takeda provides further information about its new business venture with Teva
The new business venture, to be owned 51% by Teva and 49% by Takeda, will consist of Teva Takeda Pharma and Teva Takeda Yakuhin.
Takeda Pharmaceutical Company Ltd and Teva Pharmaceutical Industries Ltd have made the below follow-up announcement regarding the overview of their new business venture in Japan.
The new business venture, to be established in or after April 2016, will deliver Teva's high-quality generic medicines and some of Takeda's long listed products to patients and healthcare professionals in Japan, leveraging Takeda's corporate brand and unique distribution network in Japan and Teva's wide product portfolio and cutting-edge business efficiency.
The major long listed products of Takeda to be transferred to the new business venture in FY2016 are BLOPRESS, TAKEPRON and BASEN. Total sales of the products to be transferred in FY2016 were 125 billion yen in FY2014, which was 7% of Takeda's global revenue. As a result of the transaction, Takeda’s FY2016 revenue is estimated to decrease by approximately 50 billion yen, based upon current assumptions. LEUPLIN remains at Takeda, as a product of Takeda Oncology.
The new business venture, to be owned 51% by Teva and 49% by Takeda, will consist of Teva Takeda Pharma and Teva Takeda Yakuhin. The details of establishing these companies by an absorption-type company split are outlined in a separate release issued by Takeda to file to the Tokyo Stock Exchange: "Takeda Announces Details of New Business Venture with Teva in Japan — Splitting off (absorption-type split) of Takeda's Long Listed Products Business and its Subsequent Succession by Teva" (Takeda's TSE Filing).
Takeda anticipates that the transaction will be both EPS and cash flow accretive in FY2016 and over the long-term, due to growth of the generic business and the addition of products from Takeda and Teva to the new business venture. The new business venture will be instantly accretive to Teva's non GAAP EPS in 2016 and beyond. Some additional details about the financial impact of the transaction are outlined in Takeda's TSE Filing, and all will be incorporated into Takeda's FY2016 forecast which will be communicated in May 2016.
Related News
-
News Pharmaceutical Supply Chain People Moves
The latest appointments, promotions, and structural changes across the pharmaceutical supply chain.
-
News Merck KGaA to buy US biotech SpringWorks for US$3.9 billion
The German multinational pharmaceutical company Merck KGaA have signed a deal to buy US biotech company SpringWorks Therapeutics at an equity value of US$3.9 billion in a move to add rare cancer therapeutics to their pipelines.
-
News Cassava Sciences halts Alzheimer's drug trial after limited progress
Cassava Sciences have drawn a close to their investigations and development of the drug simufilam, which they intended to be used for the treatment of Alzheimer’s disease.
-
News US FDA adds haemodialysis bloodlines to devices shortage list
On March 14, 2025, the US FDA published an open letter to healthcare providers citing continuing supply disruptions of haemodialysis bloodlines, an essential component of dialysis machines.
-
News Vertex Pharmaceuticals stock jumps as FDA approves non-opioid painkiller
UK-based Vertex Pharmaceuticals saw their stock shares soar as the US FDA signed off on the non-opioid painkiller Journavx, also known as suzetrigine, for patients with moderate to severe acute pain, caused by surgery, accidents, or injuries.
-
News Lessons from CPHI Milan 2024: Sunny Intervals for Pharma Manufacturing?
As the 2024 CPHI conference wrapped up in Milan, we caught up with L.E.K. Consulting – a global strategy consulting firm with deep expertise in pharma manufacturing – to discuss evolving market perspectives and business outlook. -
News US BIOSECURE Act passed by US House of Representatives
The controversial act, which has already impacted several foreign companies operating in the US, was passed by the House of Representatives on September 9, 2024. It is now headed for the US Senate before it can be signed into law by President Joe Biden... -
News Drug prices agreed upon as part of the US Inflation Reduction Act
The Inflation Reduction Act brought into constitution by the Biden administation in 2022, which proposed a drug price negotiation between the government and pharmaceutical companies, has reached it's first agreement.