Takeda Completes Sale of Select OTC and Non-Core Assets to Hypera Pharma
OSAKA, Japan–(BUSINESS WIRE)–
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced the completion of its previously-announced sale of a portfolio of select products sold in Latin America to Hypera S.A. (“Hypera Pharma”) for a total value of $825 million USD. This divestment agreement was first announced in March 2020.
The divested portfolio includes select over-the-counter and prescription pharmaceutical products sold in Brazil, Mexico, and other South American, Central American and Caribbean countries, which are part of Takeda’s Growth & Emerging Markets Business Unit (GEM BU). The products, while addressing key patient needs in these countries, are outside of the business areas Takeda has designated as core to its global long-term growth.
Close to 300 Takeda commercial employees will transition with the divested portfolio at close. As part of a manufacturing and supply agreement, Takeda will continue to exclusively manufacture the divested products.
Takeda intends 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 exceeded its $10 billion non-core asset divestiture target in 2020, announcing 11 deals since January 2019 to date for a total aggregate value of up to approximately $11.6 billion.
About Takeda Pharmaceutical Company Limited
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to discover and deliver life-transforming treatments, guided by our commitment to patients, our people and the planet. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Genetic and Hematology, Neuroscience, and Gastroenterology (GI). We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people’s lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline.
Our employees are committed to improving quality of life for patients and to working with our partners in health care in approximately 80 countries.
For more information, visit https://www.takeda.com.
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Japanese Media
Kazumi Kobayashi
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Investor Relations:
Christopher O’Reilly
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KEYWORDS: Japan Asia Pacific
INDUSTRY KEYWORDS: Biotechnology Pharmaceutical Health
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