Teva to divest business venture in Japan

6 December 2024

Israeli drugmaker Teva Pharmaceutical Industries (NYSE: TEVA) has entered into an agreement with JKI - established by the fund managed and operated by J-Will - whereby all shares of Teva Takeda Pharma Limited and its wholly-owned subsidiary, Teva Takeda Yakuhin, will be transferred to JKI.

Teva recently announced that it was open to exploring new strategic approaches in Japan, including a possible divestment of its Teva-Takeda business venture - which includes generics and legacy products and was formed in 2016 by Japanese drugmaker Takeda (TYO: 4502) and Teva - in alignment with its Pivot to Growth strategy.

Takeda reportedly expects to receive around 55 billion yen ($370 million) from the transfer proceeds and dividends, subject to any closing adjustments related to this transaction.

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