Takeda to Divest OTC and Select Non-core Assets to Celltrion for ~ $278M

Shots:

• Takeda has signed an agreement with Celltrion to divest 18 select OTC and prescription pharmaceutical assets exclusively commercialized in the Asia Pacific under which Takeda will receive $266M as up front in cash and up to $12M as milestones. The transaction is expected to be closed in H2’20
• Additionally, the two companies signed manufacturing and supply agreement under which Takeda will continue to manufacture the portfolio of divested products and supply them to Celltrion while the Celltrion will acquire the rights, title and interest to the products in the portfolio exclusive to Australia, Hong Kong, Macau, Malaysia, Philippines, Singapore, South Korea, Taiwan, and Thailand
• The divestiture allows Takeda to focus accelerating the commercial availability of its innovative medicines for patients living rare conditions and expanding its approach to access to medicines across the region. The divestment emphasizes Takeda’s commitment to financial discipline and rapid de-leveraging following Shire acquisition

Click here to read full press release/ article | Ref: PRNewswire | Image: Takeda