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Nov 22nd, 2022
Nov 22nd, 2022
Teva Pharmaceutical Industries Ltd and Takeda Pharmaceutical Company Limited have formed a new venture they say will meet the wide-ranging needs of patients in Japan.
Japan is one of the fastest growing generic markets in the world. The partnership comes against the backdrop of growing patient demand for a sustainable supply of affordable high quality medicines.
Teva, which boasts high brand recognition in Japan, will have a 51% stake in the new company. Takeda, touted for its expertise in supply chain logistics and R&D, will have 49%.
Masato Iwasaki, president of Takeda’s Japan Pharma Business Unit, expressed “delight” at the new collaborative business model.
“Takeda will further strengthen its initiative as a leading company in the Japanese pharmaceutical industry, leveraging our activities to lead innovation in medicine as well as supporting the new company’s business,” he explained.
The business, which subject to standard regulatory approvals is expected to open its doors in the second calendar quarter of 2016, will operate as an independent company with its own board of directors, chief executive officer and executive leadership team.
Siggi Olafsson, president and CEO of Teva Global Generic Medicines, said: “The new business venture will combine Teva’s strong generics platform, portfolio and quality across the value chain with Takeda’s leading brand presence and distribution capabilities in Japan.”
The “unique combination” will create a company perfectly positioned to lead the high growth in the generic market in Japan, he added.
“It is aligned with the Japanese government objectives to reach 80% generic penetration by the end of fiscal year 2020. The new business venture with Takeda reaffirms our long-standing commitment to Japanese patients and delivers on Teva’s strategy of increasing our presence in key emerging markets to position Teva for long-term sustainable growth.”
The business will offer patients and the healthcare system the portfolio of Teva’s high-quality generic medicines and Takeda’s long-standing products.
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