(Reuters) – Teva Pharmaceutical Industries said on Thursday it will transfer ownership of its business venture that sold generics in Japan to JKI. Israel-based Teva’s deal with JKI will transfer all the shares of the unit Teva-Takeda and its subsidiary Teva Takeda Yakuhin to the firm. Teva-Takeda is a joint venture established in 2016 by […]
Health
Pharma firm Teva to divest its business venture in Japan
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(Reuters) – Teva Pharmaceutical Industries said on Thursday it will transfer ownership of its business venture that sold generics in Japan to JKI.
Israel-based Teva’s deal with JKI will transfer all the shares of the unit Teva-Takeda and its subsidiary Teva Takeda Yakuhin to the firm.
Teva-Takeda is a joint venture established in 2016 by Japanese drugmaker Takeda and Teva, focusing primarily on the business of generic and off-patent medicines.
JKI was established by a fund managed and operated by private equity firm J-Will Partners.
Teva had previously said it was open to exploring new strategic approaches in Japan, which included the possible divestment of Teva-Takeda.
The Japanese business venture offers generics and legacy products.
The world’s largest generic drugmaker, Teva, expects the divestiture to be completed by April 1, 2025.
(Reporting by Sriparna Roy in Bengaluru; Editing by Krishna Chandra Eluri)