Teva Buys Kowa’s Half of Japanese Generics JV

Teva Pharmaceutical is paying Japan's Kowa Company $150 million to acquire the latter's 50% stake in their generics joint venture to further develop the generic pharmaceuticals in Japan.

Israel's generic drug giant Teva Pharmaceutical has signed an agreement with Kowa Company to pay the latter $150 million to acquire 50% stake in their Japanese generics joint venture Teva-Kowa Pharma. The acquisition means Teva will own Teva-Kowa outright.

Teva-Kowa was established by its namesakes in September 2008, and has since grown into one of Japan’s top five generics players, with sales of some $200 million in 2010, Teva claims.

The firm’s acquisition of the whole business follows from its acquisition in July of Japanese generics firm Taiyo Pharmaceutical, including its R&D team and production facility, for $934 million. Teva says Taiyo is Japan's third-largest generics business, with sales of so