Takeda divests another batch of non-core assets

Japan’s largest drugmaker Takeda Pharmaceutical (TYO: 4502) is continuing the sale of non-core assets, announcing an agreement to divest a portfolio of select prescription pharmaceutical products sold predominantly in Europe and Canada to Germany-based Cheplapharm Arzneimittel.

Takeda will receive an upfront payment of approximately $562 million from Cheplapharm, subject to customary legal and regulatory closing conditions.

The portfolio to be divested to Cheplapharm is comprised of non-core prescription medicines 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 fiscal year 2019 net sales of around $260 million. 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. 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.”

Last month, Takeda announced an agreement to divest Takeda Consumer Healthcare Company Limited to Blackstone for approximately $2.3 billion. 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; in April, Takeda announced the sale of non-core OTC products in Europe to Orifarm Group for up to about $670 million, 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, 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.