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Takeda divests select non-core sssets in Europe to Cheplapharm for approximately $562 million USD

Takeda Pharmaceutical Company to divest a portfolio of select non-core prescription pharmaceutical products sold predominantly in Europe and Canada to Cheplapharm. (Shutterstock)
Takeda Pharmaceutical Company to divest a portfolio of select non-core prescription pharmaceutical products sold predominantly in Europe and Canada to Cheplapharm. (Shutterstock)
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08 Sep 2020 07:09:09 GMT9
08 Sep 2020 07:09:09 GMT9

Takeda Pharmaceutical Company announced September 8 that it has entered into an agreement to divest a portfolio of select non-core prescription pharmaceutical products sold predominantly in Europe and Canada to Cheplapharm.

Cheplapharm is a specialty pharmaceutical company headquartered in Germany with a 25-year history of successfully acquiring, integrating and growing pharmaceutical products. Takeda will receive an upfront payment of approximately $562 million USD, subject to customary legal and regulatory closing conditions.

The portfolio to be divested to Cheplapharm is comprised of non-core prescription pharmaceutical products in a variety of therapeutic categories sold predominantly in Europe and Canada. This includes Cardiovascular/Metabolic and Anti-Inflammatory products along with Calcium.

The portfolio generated FY 2019 net sales of approximately $260 million USD. While the products included in the sale address key patient needs in these countries, they are outside of Takeda’s five key business areas. With a more focused portfolio, the divestiture further enables Takeda’s Europe & Canada Business Unit (EUCAN) to focus on and drive strategic core growth areas. In April 2020, Takeda announced to divest EUCAN’s non-core over-the-counter (OTC) products to Orifarm Group.

Giles Platford, President, EUCAN, Takeda, said, “These divestments represent another important milestone in our portfolio simplification and optimization strategy as we position Takeda for continued success across our five key business areas: Gastroenterology (GI), Rare Diseases, Plasma-Derived Therapies, Oncology and Neuroscience. We are pleased to have found a partner in Cheplapharm who shares our commitment to patient care and has the experience and resources to continue investing in these important products well into the future for the benefit of patients.”

Costa Saroukos, Chief Financial Officer, Takeda, said, “Today’s announcement allows Takeda to continue to be patient-focused as we streamline and optimize our portfolio according to our global long-term strategy. While the trusted products included in the sale address key patient needs in these countries, they are outside of our core business areas of focus. We are confident that Cheplapharm is the right partner to ensure patients continue to have access to these products.”

The sale of these non-core prescription products supports Takeda’s continued divestiture program. Last month, Takeda announced an agreement to divest Takeda Consumer Healthcare Company Limited to Blackstone for approximately $2.3 billion USD.

In June, Takeda agreed to divest a portfolio of non-core assets sold exclusively in the Asia Pacific region to Celltrion for up to $278 million USD; in April, Takeda announced the sale of non-core OTC products in Europe to Orifarm Group for up to approximately $670 million USD, including the sale of two manufacturing sites in Denmark and Poland; and in March, Takeda announced the sale of non-core products in Latin America to Hypera Pharma for $825 million USD, as well as completed the previously announced sales of non-core assets spanning the Russia-CIS region to STADA and in countries spanning the Near East, Middle East and Africa region to Acino.

AP

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