Takeda has once again spun off some of its businesses to help it pay off the huge debts it incurred in acquiring shire.
On June 11, Takeda said it would sell 18 over-the-counter (OTC) and prescription drug combinations sold in the Asia Pacific region to South Korean pharmaceutical company celltrion. The deal totaled $278 million, including $266 million in cash advances and $12 million in potential milestone payments. As with previous divestitures, the rights to the drugs sold are outside Takeda's selected focus areas (Gastroenterology, rare diseases, plasma derived therapy, oncology and Neuroscience).
Specifically, the product portfolio for sale includes various OTC and prescription products in the fields of cardiovascular, diabetes and general medical treatment, mainly sold in Australia, Hong Kong, Macao, Taiwan, Malaysia, Philippines, Singapore, South Korea and Thailand. Takeda said that in the financial year to March 2019, the total sales volume of 18 products sold was about 140 million US dollars, among which nesina and edarbi, the high blood pressure drug, were the most prominent.
Takeda expects the deal to be completed by the end of this year, after which it will continue to be responsible for the production and manufacture of these drugs and provide them to celltrion for sale.