Global generics giant Teva has teamed up with Takeda to create a new company in Japan to promote high-quality generics

December 1, 2015 - Global generics giant Teva has reached a final agreement with Takeda, Japan's pharmaceutical leader, to establish an unprecedented partnership in Japan, setting up a new company to promote high-quality generics to meet the broad needs of Japanese patients and the growing use of generics in the market. As one of the world's fastest-growing generic markets, Japan will continue to grow in the future, driven by policies such as patient demand for a stable supply of affordable, high-quality medicines and the Japanese government's intention to reduce health care spending.
Takeda has a first-class brand reputation and strong commercial presence in Japan, combined with Teva's expertise in supply chain, operational network, global commercial deployment and infrastructure, research and development, and the strategic partnership will lead to a new cooperative business model that is consistent with the Japanese government's goals and will ultimately serve millions of Japanese patients.
In accordance with established practice, the partnership will be subject to regulatory review and, following regulatory approval, the new company is expected to begin operations in the second quarter of 2016 and will provide high-quality generics and Takeda's long-listed portfolio for patients and healthcare systems in Japan.
under the agreement, Teva will take a 51 per cent stake in the new company, Takeda will take a 49 per cent stake, and the new company will operate as an independent company with its own board of directors, chief executive officer and executive leadership team. Further details of the cooperation between the two sides have not been disclosed. Given that the deal will not take effect until the second quarter of 2016, it will not have a significant impact on Teva and Takeda's 2015 finances.
said it was pleased to be working with global generics giant Teva to launch a new business in the Japanese market. As a leader in the Pharmaceutical Industry in Japan, Takeda will further enhance its initiative and use the company's activities to actively lead pharmaceutical innovation and support the new company's business.
Teva said the new company will combine Teva's powerful generics platform and entire value chain, as well as Takeda's leading brand and distribution capabilities in the Japanese market, to create a unique combination of companies that are ideally positioned to lead the rapid growth of the japanese generics market and are in keeping with the Japanese government's goal of achieving 80% generic penetration by 2020. The partnership with Takeda to create a new company will reaffirm Teva's strategic position to strengthen its presence in key emerging markets, while laying the foundation for Teva's long-term sustainable growth in the global market in the future. (Bio Valley)