− Company further sharpens focus on patient access to innovative medicines in Latin America
− Transaction further accelerates deleveraging
Contacts
Investor Relations Contact:
Takashi Okubo
+81-(0)3-3278-2306
takeda.ir.contact@takeda.com
Media Inquiries:
Sandy Rodriguez
Head, Integration & Divestiture Communications
sandy.rodriguez@takeda.com
Vince Docherty
Head, Communications, GEM Business Unit
vince.docherty@takeda.com.
Kazumi Kobayashi (Japan)
+81 (0)3-3278-2095
kazumi.kobayashi@takeda.com
− Transaction further accelerates deleveraging
OSAKA, Japan-Thursday 5 March 2020 [ AETOS Wire ]
View source version on businesswire.com: https://www.businesswire.com/news/home/20200302005426/en/
(BUSINESS WIRE) -- Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK)
(“Takeda”) today announced that it has entered into an agreement to
divest a portfolio of select non-core products exclusively in Latin
America to Hypera S.A. (“Hypera Pharma”), Brazil’s largest
pharmaceutical company with a leading position in branded prescriptions,
consumer health and branded generics, for a total value of $825M USD.
The
portfolio includes over-the-counter and prescription pharmaceutical
products sold in Brazil, Mexico, Argentina, Colombia, Ecuador, Panama
and Peru, which are part of Takeda’s Growth & Emerging Markets
Business Unit.
“Takeda
remains firmly committed to the emerging markets, and Latin America.
This divestment enables us to focus our investments in these countries
that center on our highly innovative medicines across Gastroenterology,
Rare Diseases, Plasma-Derived Therapies, Oncology and Neuroscience,”
said Ricardo Marek, President, Growth & Emerging Markets Business
Unit, Takeda, “Doing so will help meet the unmet needs of patients
living with complex and rare conditions. At the same time, we are
confident that Hypera Pharma is well placed to provide patients with
uninterrupted access to the products they will acquire.”
This is
Takeda’s fifth divestment over the last 12 months, contributing to the
Company’s goal to divest approximately $10 billion USD in non-core
assets. Takeda intends to use the proceeds from its divestitures to
continue to reduce its debt and accelerate rapid deleveraging toward its
target of 2x net debt/adjusted EBITDA within March 2022 – March 2024.
Takeda
previously announced the sales of TachoSil® to Ethicon for $400 million
USD in May 2019, Xiidra® to Novartis for up to $5.3 billion USD in July
2019, non-core assets in countries spanning Near East, Middle East and
Africa to Acino for over $200 million USD in October 2019, and a
portfolio of non-core assets in Russia, Georgia, and a number of
Commonwealth of Independent States countries to STADA for $660 million
USD in November 2019.
The
non-core products in this latest transaction generated revenues of
approximately $215 million USD in Fiscal Year 2018, driven by sales of
key products such as Neosaldina®, Nesina®, and Dramin®.
While these
trusted products continue to play important roles in meeting patient
needs, they are not within Takeda's chosen business areas –
Gastroenterology, Rare Diseases, Plasma-Derived Therapies, Oncology and
Neuroscience – that are core to its global long-term strategy. Their
divestment enables the Company to further focus on its key business
areas through simplifying its portfolio.
“This
announcement marks the latest step in Takeda’s strategy of streamlining
and optimizing our portfolio while accelerating our deleveraging. By
continuing to focus on our key business areas and pipeline of innovative
medicines, we will strengthen our position as a R&D driven global
biopharmaceutical leader and deliver enhanced value for patients and
Takeda shareholders,” said Costa Saroukos, Chief Financial Officer,
Takeda.
Transaction Details
Takeda has
entered into an agreement to divest the rights, title, and interest to
the products in a portfolio of approximately 18 select OTC and
prescription pharmaceutical assets sold in Brazil, Mexico, Argentina,
Colombia, Ecuador, Panama and Peru - to Hypera Pharma for a total value
of $825M USD.
Under the
terms of the agreement, Takeda anticipates that approximately 300
commercial employees supporting the divested assets will be given the
opportunity to transition over to Hypera Pharma at the close of this
transaction.
Takeda and
Hypera Pharma have also entered into a manufacturing and supply
agreement under which Takeda will continue to manufacture these products
and supply them to Hypera Pharma.
The
transaction is expected to close in the second half of 2020, subject to
the satisfaction of customary closing conditions. Until then, Takeda
remains the owner of these products and responsible for ensuring patient
access to them.
Takeda is being advised by BofA Securities (financial advisor) and White & Case (legal advisor) in this transaction.
About Takeda Pharmaceutical Company Limited
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK)
is a global, values-based, R&D-driven biopharmaceutical leader
headquartered in Japan, committed to bringing Better Health and a
Brighter Future to patients by translating science into
highly-innovative medicines. Takeda focuses its R&D efforts on four
therapeutic areas: Oncology, Rare Diseases, Neuroscience, and
Gastroenterology (GI). We also make targeted R&D investments in
Plasma-Derived Therapies and Vaccines. We are focusing on developing
highly innovative medicines that contribute to making a difference in
people's lives by advancing the frontier of new treatment options and
leveraging our enhanced collaborative R&D engine and capabilities to
create a robust, modality-diverse pipeline. Our employees are committed
to improving quality of life for patients and to working with our
partners in health care in approximately 80 countries.
For more information, visit https://www.takeda.com.
Important Notice
For the
purposes of this notice, “press release” means this document, any oral
presentation, any question and answer session and any written or oral
material discussed or distributed by Takeda Pharmaceutical Company
Limited (“Takeda”) regarding this release. This press
release (including any oral briefing and any question-and-answer in
connection with it) is not intended to, and does not constitute,
represent or form part of any offer, invitation or solicitation of any
offer to purchase, otherwise acquire, subscribe for, exchange, sell or
otherwise dispose of, any securities or the solicitation of any vote or
approval in any jurisdiction. No shares or other securities are being
offered to the public by means of this press release. No offering of
securities shall be made in the United States except pursuant to
registration under the U.S. Securities Act of 1933, as amended, or an
exemption therefrom. This press release is being given (together with
any further information which may be provided to the recipient) on the
condition that it is for use by the recipient for information purposes
only (and not for the evaluation of any investment, acquisition,
disposal or any other transaction). Any failure to comply with these
restrictions may constitute a violation of applicable securities laws.
The
companies in which Takeda directly and indirectly owns investments are
separate entities. In this press release, “Takeda” is sometimes used for
convenience where references are made to Takeda and its subsidiaries in
general. Likewise, the words “we”, “us” and “our” are also used to
refer to subsidiaries in general or to those who work for them. These
expressions are also used where no useful purpose is served by
identifying the particular company or companies.
Forward-Looking Statements
This press
release and any materials distributed in connection with this press
release may contain forward-looking statements, beliefs or opinions
regarding Takeda’s future business, future position and results of
operations, including estimates, forecasts, targets and plans for
Takeda. Without limitation, forward-looking statements often include
words such as “targets”, “plans”, “believes”, “hopes”, “continues”,
“expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”,
“would”, “could” “anticipates”, “estimates”, “projects” or similar
expressions or the negative thereof. Forward-looking statements in this
document are based on Takeda’s estimates and assumptions only as of the
date hereof. Such forward-looking statements do not represent any
guarantee by Takeda or its management of future performance and involve
known and unknown risks, uncertainties and other factors, including but
not limited to: the economic circumstances surrounding Takeda’s global
business, including general economic conditions in Japan and the United
States; competitive pressures and developments; changes to applicable
laws and regulations; the success of or failure of product development
programs; decisions of regulatory authorities and the timing thereof;
fluctuations in interest and currency exchange rates; claims or concerns
regarding the safety or efficacy of marketed products or product
candidates; the timing and impact of post-merger integration efforts
with acquired companies; and the ability to divest assets that are not
core to Takeda’s operations and the timing of any such divestment(s),
any of which may cause Takeda’s actual results, performance,
achievements or financial position to be materially different from any
future results, performance, achievements or financial position
expressed or implied by such forward-looking statements. For more
information on these and other factors which may affect Takeda’s
results, performance, achievements, or financial position, see “Item 3.
Key Information—D. Risk Factors” in Takeda’s most recent Annual Report
on Form 20-F and Takeda’s other reports filed with the U.S. Securities
and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/reports/sec-filings/ or at www.sec.gov.
Future results, performance, achievements or financial position of
Takeda could differ materially from those expressed in or implied by the
forward-looking statements. Persons receiving this press release should
not rely unduly on any forward-looking statements. Takeda undertakes no
obligation to update any of the forward-looking statements contained in
this press release or any other forward-looking statements it may make,
except as required by law or stock exchange rule. Past performance is
not an indicator of future results and the results of Takeda in this
press release may not be indicative of, and are not an estimate,
forecast or projection of Takeda’s future results.
Contacts
Investor Relations Contact:
Takashi Okubo
+81-(0)3-3278-2306
takeda.ir.contact@takeda.com
Media Inquiries:
Sandy Rodriguez
Head, Integration & Divestiture Communications
sandy.rodriguez@takeda.com
Vince Docherty
Head, Communications, GEM Business Unit
vince.docherty@takeda.com.
Kazumi Kobayashi (Japan)
+81 (0)3-3278-2095
kazumi.kobayashi@takeda.com
