Takeda announced the completion of its previously-announced sale of a portfolio of select products sold in Latin America to Hypera (Hypera Pharma) for a total value of $825 million USD. This divestment agreement was first announced in March 2020.
The divested portfolio includes select over-the-counter and prescription pharmaceutical products sold in Brazil, Mexico, and other South American, Central American and Caribbean countries, which are part of Takeda’s Growth & Emerging Markets Business Unit (GEM BU).
Close to 300 Takeda commercial employees will transition with the divested portfolio at close. As part of a manufacturing and supply agreement, Takeda will continue to exclusively manufacture the divested products.
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Takeda intends to use the proceeds from the sale to reduce its debt and accelerate deleveraging towards its target of 2x net debt/adjusted EBITDA within Fiscal Years 2021–2023.
Takeda exceeded its $10 billion non-core asset divestiture target in 2020, announcing 11 deals since January 2019 to date for a total aggregate value of up to approximately $11.6 billion.