Takeda Sells Mideast, Africa Drug Portfolio To Switzerland’s Acino

Whatapp News

Takeda Pharmaceutical Co President and Chief Executive Officer Christophe Weber

TOKYO – Japan’s Takeda Pharmaceutical Co Ltd said on Tuesday it will sell a portfolio of over-the-counter (OTC) and prescription medicines in the Middle East and Africa to Swiss pharmaceuticals company Acino for more than $200 million.

The sale, which Takeda said in a statement is expected to close in the quarter ending March, comes as Japan’s biggest drugmaker looks to trim its debt following the $59 billion purchase of Shire.

Takeda gained global heft through the Shire acquisition but left it highly indebted. It has pledged to shed non-core assets while focusing on five key areas – oncology, gastroenterology, neuroscience, rare disease, and plasma-derived therapies.

Takeda said it will continue to manufacture the drugs for Acino, which is backed by Avista Capital and Nordic Capital.