Takeda sells more non-core assets for $322 million

Japan’s largest drugmaker Takeda Pharmaceutical (TYO: 4502) has signed an agreement to divest a portfolio of five select non-core prescription pharmaceutical products sold in China to Chinese firm Hasten Biopharmaceutic.

Takeda will receive $322 million, subject to customary legal and regulatory closing conditions. Under the terms of the deal, Hasten will acquire the rights, title and interest to the products in the portfolio exclusive to China.

The portfolio to be divested to Hasten includes cardiovascular and metabolism products sold in mainland China. The portfolio generated fiscal year 2019 net sales of approximately $109.5 million, driven by strong sales of cardiovascular products such as Ebrantil (urapidil). While the products included in the sale continue to play important roles in meeting patient needs in the country, they are outside of Takeda's chosen business areas – gastroenterology (GI), rare diseases, plasma-derived therapies, oncology and neuroscience – that are core to its global long-term growth strategy.

Now exceeds divesture target