Takeda Pharmaceutical Company Limited (TOKYO:4502) has entered into a definitive agreement to sell its respiratory portfolio to AstraZeneca. In 2014 Takeda defined four therapeutic areas of focus: Gastroenterology, Oncology, Central Nervous System, and Cardiovascular and Metabolic. This divestiture will allow Takeda to work on becoming best-in-class in these therapeutic areas, while maintaining continuity of care for patients.
"Patients are Takeda's primary focus and we are committed to working closely with AstraZeneca to ensure a smooth transition," said Christophe Weber, Chief Executive Officer, Takeda Pharmaceutical Company Limited. "AstraZeneca has extensive experience in respiratory care and will be able to prioritize getting these important medicines to the patients that need them."
Under the terms of the agreement, AstraZeneca will acquire the respiratory business including products Daxas (roflumilast), Alvesco and Omnaris (ciclesonide). The acquisition will also include regional and local products, as well as several pre-clinical assets. A number of Takeda employees will transfer to AstraZeneca upon completion of the divestiture.
The financial impact from this divestiture on Takeda’s 2015 consolidated financial statements is expected to be minimal. Sales of respiratory products, Daxas, Alvesco and Omnaris, totaled approximately 24 billion yen in fiscal year 2014. The transaction is expected to close during the first calendar quarter of 2016, subject to customary closing conditions.
About Takeda Pharmaceutical Company Limited
Located in Osaka, Japan, Takeda (TOKYO:4502) is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to strive towards better health for people worldwide through leading innovation in medicine.