Takeda sells non-core primary care assets for over $200 million

Japan’s largest drugmaker Takeda (TYO: 4502) has agreed to sell a portfolio of around 30 select prescription pharmaceutical and over-the-counter (OTC) products sold in the NEMEA region to Acino  Pharma (SIX: ACIN), a Swiss pharmaceutical company headquartered in Zurich, with a clear focus on selected markets in the Middle East, Africa, the CIS Region, and Latin America, for a total value in excess of $200 million.

The following key countries are included in the agreement: Egypt, Saudi Arabia, South Africa, Turkey, Ukraine and United Arab Emirates, as well as other countries.

This is the third transaction in fiscal year 2019 that furthers Takeda’s strategy to focus on business areas core to its long-term growth and facilitate rapid deleveraging following its acquisition of Shire. Takeda’s shares gained 1.8% to 3,789 yen on the news.