Takeda and Teva establish joint company for generics in Japan

1 April 2016
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Israel’s Teva Pharmaceutical Industries (NYSE: TEVA) and Japan’s largest drugmaker Takeda Pharmaceutical (TYO: 4502) have established Teva Takeda Yakuhin Ltd. Teva will have a 51% stake in the company and Takeda will own 49%.

As a result of this strategic move, Takeda, an R&D driven pharmaceutical company which has a long history as a leading company in Japan, and Teva, among the top 10 pharmaceutical companies in the world and the global leader in generics, will meet the wide-ranging needs of patients and growing importance of generics in Japan through the provision of off-patent drugs (products whose patents have expired).

As a result of the transfer of intangible assets of long listed products from Takeda to Teva Takeda Yakuhin, Takeda expects to record approximately 100 billion yen (~$885 million) of "gains on transfer of business" under "other operating income" in its fiscal year 2016 consolidated financials. The new business venture is expected to be accretive to Teva's non-generally accepted accounting principles (GAAP) earnings per share beginning in 2016.

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