Teva sets up Japanese joint venture with Takeda

Takeda headquarters in Japan

The new joint venture focusing on generic pharmaceutical sales in Japan will begin operating in the second quarter of 2016.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has begun dealing with its weak performance in Japan by setting up a joint venture with Takeda Pharmaceuticals. The joint venture will begin operating in the second quarter of 2016 in the generics sector. Teva and Takeda are already partners in marketing the Israeli company's branded drugs - Copaxone for treating multiple sclerosis and Azilect for treating Parkinson's disease - in Japan. Marketing of Copaxone in Japan was launched last weekend.

Teva will have a 51% stake in the new company and Takeda will have 49%. Teva has seen its generic sales fall in Japan in recent quarters even though the Japanese generics market is growing.

Teva Global Generic Medicines CEO and president Siggi Olafsson 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. This unique combination will create a company ideally positioned to lead the high growth in the generic market in Japan and 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.”

Published by Globes [online], Israel business news - www.globes-online.com - on November 30, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

Takeda headquarters in Japan
Takeda headquarters in Japan
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