AsianScientist (Dec. 11, 2015) – Teva Pharmaceutical Industries Ltd and Takeda Pharmaceutical Company Limited have entered into a partnership focused on the development of generic drugs for the Japanese market.
Takeda is a research and development driven pharmaceutical company with a long history in Japan, and Teva is among the world’s top ten pharmaceutical companies and a global leader in generics. The partnership aims to combine Takeda’s brand reputation and distribution presence in Japan’s fast growing generics markets, with Teva’s expertise in supply chain, operational networks, global commercial deployment and infrastructure, and research and development.
Subject to regulatory approval, the business venture is expected to start operating in the second calendar quarter of 2016, and will offer patients and the healthcare system the portfolio of Teva’s generic medicines and Takeda’s products.
Teva will have a 51 percent stake in the new company and Takeda will have 49 percent. The business venture will operate as an independent company with its own board of directors, chief executive officer, and executive leadership team. Further details of the agreement have not been disclosed. Given that the deal will not become effective until the second calendar quarter of 2016, there is no expected material financial impact for both Teva and Takeda in 2015.
“The new business venture will combine Teva’s strong generics platform, portfolio and quality across the value chain with Takeda’s leading brand presence and distribution capabilities in Japan,” said Siggi Olafsson, President and CEO of Teva Global Generic Medicines.
“This unique combination will create a company ideally positioned to lead the high growth in the generic market in Japan and is aligned with the Japanese government objectives to reach 80 percent generic penetration by the end of fiscal year 2020.”
Source: Takeda; Photo: Evan Blaser/Flickr/CC.
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