Takeda Divests Four Diabetes Products In Japan To Teijin Pharma
- Takeda Pharmaceutical Co Ltd (NYSE: TAK) will sell its four non-core type-2 diabetes products (Nesina, Liovel, Inisync, and Zafatek) in Japan to Teijin Pharma Limited, ¥133 billion (roughly $1.25 billion).
- The portfolio generated total sales of approximately ¥30.8 billion (roughly $290 million) in FY2019.
- Takeda will continue to manufacture and supply these products.
- Takeda will use the proceeds to pay down debt and accelerate deleveraging towards its target of 2x net debt/adjusted EBITDA within FY2021 – FY2023.
- Takeda said that the divestiture provides momentum toward optimizing its portfolio for growth primarily focused on gastroenterology, rare diseases, plasma-derived therapies, oncology, and neuroscience.
- Takeda has announced 12 deals since January 2019, for a total aggregate value of up to approximately $12.9 billion.
- Price Action: TAK at $16.75 closed 2.7% lower on Thursday.
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