Takeda sheds products in emerging markets in $200m deal

By Ben Hargreaves contact

- Last updated on GMT

(Image: Getty/BobHemphill)
(Image: Getty/BobHemphill)

Related tags: Takeda, Shire, Acino, NEMEA

Takeda has sold selected prescription and OTC products to Acino covering its Near East, Middle East and Africa portfolio, as it looks to trim down its portfolio following the acquisition of Shire.

The products are currently contained within Takeda’s ‘Growth and Emerging Markets’ business unit, and the company noted that these are primarily outside of its core business areas.

However, Acino, the Swiss pharmaceutical company acquiring the assets, noted that it would pick up certain gastroenterology products, which would be considered part of Takeda’s core areas. The other therapeutic areas represented in the portfolio are cardiovascular, pain management, and respiratory.

In return for the approximately 30 products that Acino will acquire, the Basel-headquartered company will pay in excess of $200m (€181m).

Acino specified that the deal would strengthen its position in several ‘key markets’, including UAE, Egypt, Saudi Arabia, Turkey, Ukraine, and South Africa – with the entire portfolio of products being part of the Near East, Middle East and Africa (NEMEA) commercial region.

It was revealed that the two companies had also entered a ‘multi-year’ manufacturing and supply agreement, which would see Takeda manufacture the products on behalf of Acino. In addition, Takeda noted that it expects sales and marketing professionals currently responsible for the portfolio to transition to Acino at the closing of the transaction.

The deal is expected to close in the fourth quarter of this financial year.

Post-Shire slimdown

The amount of debt and the size of Takeda’s portfolio grew substantially after the $62bn acquisition of Shire, which has led the company to embark on series of dealings slimming down the combined business – some of which were not voluntary​.

This led Takeda to sell its Xiidra (lifitegrast ophthalmic solution) for $3.4bn and also saw the divestment of TachoSil Fibrin Sealant Patch​ to Ethicon for $400m.

The further sale of its products to Acino, in this latest deal, is the third such transaction the company has completed in 2019, with the proceeds from the latest deal being used to reduce debt.

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