Takeda Divests Five Non-Core Products to Hasten for $322M

Takeda Pharmaceutical Co. Ltd. entered into an agreement to divest a portfolio of non-core prescription pharmaceutical products sold in China to Hasten Biopharmaceutic Co., Ltd., for $322M, subject to customary legal and regulatory closing conditions. Under the terms of the agreement, Hasten will acquire the rights, title and interest to the products in the portfolio exclusive to China. The portfolio to be divested to Hasten includes cardiovascular and metabolism products sold in mainland China, and generated FY2019 net sales of approximately $109.5M, driven by strong sales of cardiovascular products such as Ebrantil (urapidil). While the products included in the sale continue to play important roles in meeting patient needs in the country, they are outside of Takeda's chosen business areas – gastroenterology, rare diseases, plasma-derived therapies, oncology and neuroscience – that are core to its global long-term growth strategy. Takeda and Hasten have also entered into a manufacturing and supply agreement under which Takeda will continue to manufacture the portfolio of divested products and supply them to Hasten. Takeda has now exceeded its $10B non-core asset divestiture target, announcing ten such deals since January 2019 to date for a total aggregate value of up to $11.3B.

Update 03/31/2022

In addition to antihypertensive Ebrantil, the portfolio of prescription pharmaceutical products divested includes antihypertensives Blopress/Atacand (candesartan cilexetil) and Edarbi (azilsartan medoxomil) and Actos (pioglitazone) and Basen (voglibose) for Type II diabetes.