The portfolio includes over-the-counter (OTC) and prescription pharmaceutical products exclusively in Russia, Georgia and a number of countries from within the Commonwealth of Independent States, which form part of Takeda’s Growth & Emerging Markets Business Unit.
This is Takeda’s fourth divestment transaction in the past six months that contributes to its goal to divest approximately US$10 billion in non-core assets to focus on five key business areas and commitment to accelerating its deleveraging following acquisition of Shire.
“This announcement is the latest step in Takeda’s effort to simplify our portfolio, accelerate deleveraging, and continue to invest in our key business areas,” said Takeda chief financial officer, Costa Saroukos.
“We are making strong progress towards executing our strategy and delivering enhanced value for patients and Takeda shareholders.”
The portfolio to be divested to STADA includes OTC Vitamins and Food Supplements, plus select products within the Cardiovascular, Diabetes, General Medicine and Respiratory therapeutic areas.
The company intends to use the proceeds from this divestiture to continue reducing debt and accelerate deleveraging toward its target of 2.0x net debt/adjusted EBITDA over the next three to five years.
More information at https://www.takeda.com.
-- BERNAMA
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