Takeda Pharmaceutical Company Limited, a research-based global company, and Teva Pharmaceutical Industries Ltd, a leading global pharmaceutical company, have announced the follow up on the overview of their new business venture in Japan, which was initially disclosed on November 30, 2015 in the press release titled, “Teva and Takeda establish unique partnership to meet the wide-ranging needs of patients and growing importance of generic medicines use in Japan”.
The new business venture, to be established in or after April 2016, will deliver Teva’s high-quality generic medicines and some of Takeda’s long listed products to patients and healthcare professionals in Japan, leveraging Takeda’s corporate brand and unique distribution network in Japan and Teva’s wide product portfolio and cutting-edge business efficiency.
The new business venture, to be owned 51 per cent by Teva and 49 per cent by Takeda, will consist of Teva Takeda Pharma and Teva Takeda Yakuhin.
Significance of the deal:
The strategic move between Takeda, an R&D driven pharmaceutical company which has a long history as a leading company in Japan, and Teva, among the top ten pharmaceutical companies in the world and the global leader in generics, will form a new business venture to meet the wide-ranging needs of patients and growing importance of generics in Japan. As one of the fastest growing generics markets in the world, Japan is expected to continue its high growth driven by social requirements such as increased patients’ needs for stable supply of affordable high quality medicines and the Japanese government’s policy of reduction of healthcare expenditures. Takeda’s leading brand reputation and strong distribution presence in Japan combined with Teva’s expertise in supply chain, operational network, global commercial deployment and infrastructure, and R&D, brings forward a new, collaborative business model in line with government objectives and ultimately serving millions of patients.