Takeda continues divestment of non-core med assets
Getting shed of another batch of non-core products, Japan’s largest drugmaker Takeda Pharmaceutical (TYO: 4502) has entered into an agreement to divest a portfolio of select over-the-counter (OTC) and prescription pharmaceutical products sold exclusively in Asia Pacific to South Korea-based Celltrion (Kosdaq: 068270.
Takeda will receive $266 million upfront in cash and up to an additional $12 million in potential milestone payments, subject to customary legal and regulatory closing conditions. Takeda, which is carrying a load of debt as a result of its $62 billion buy of Shire last year, has set a goal of around $10 billion in asset sales.
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