With the aim of reducing its debt of $59 billion Shire acquisition, Takeda has found a buyer for its third bundle of assets.
The Japanese drugmakers are selling around 30 over-the-counter and prescription drugs in the Middle East and Africa to Switzerland’s Acino International for more than $200 million, the companies confirmed on Tuesday.
The products are not from Takeda’s chosen focus areas of gastroenterology, rare diseases, plasma-derived therapies, oncology, and neuroscience. The exceptions are to gain back the rights to some of the older stomach drugs such as dexlansoprazole and pantoprazole in some countries, a Takeda spokesman said. Takeda remains focused on supplying the two drugs in the emerging markets of countries where it’ll retain rights.
Egypt, Saudi Arabia, South Africa, Turkey, Ukraine, and the United Arab Emirates, etc. are included in the agreement. Takeda remains focused on this region, Ricardo Marek, Takeda’s president of Growth and Emerging Markets, stated. This deal will allow Takeda to allocate its resources to new drugs; it has a strategy to launch 16 innovative medicines over the next three years in those countries, the spokesman added.
About 300 Takeda employees, mainly working in sales and marketing, will be given a transfer to Acino on the instance the two companies wrap up the deal, which is expected to see it’s signing at the end of March 31.
Acino, a Zurich-headquartered pharma owned by private equity firms Nordic Capital and Avista Capital Partners, is determined on upcoming markets like the Middle East, Africa, the Commonwealth states and Latin America. Last October, the company appointed Andrew bird a veteran of Bristol-Myers Squibb to carry on its business in the Middle East and Africa.