Stada Takes Part of Takeda’s CIS Portfolio
In the largest acquisition in the company’s history, German generics producer Stada is paying $660 million to take some of the over-the-counter and prescription drugs portfolio of Japanese pharmaceuticals giant Takeda marketed in Russia, Georgia and several other countries belonging to the Commonwealth of Independent States (CIS).
The pick-up, which broadens the German company’s existing offerings in the region while further expanding its consumer health business, encompasses around 20 of Takeda’s assets in the countries, including OTC vitamins and food supplements as well as drugs in cardiovascular, diabetes, general medicine and respiratory therapeutic areas.
Among the medicines changing hands are blood clot buster Cardiomagnyl (magnesium hydroxide), which was acquired by Takeda in its 2011 takeover of Nycomed buyout and is regarded as a key growth driver. Other products planned to transfer are the diabetes treatment Nesina, which is still patent-protected, and blood pressure drug Edarbi.
Some 500 current Takeda employees in sales and marketing are expected to move to Stada when the transaction completes at the end of the 2020 first quarter. The Japanese drugmaker will continue to manufacture the drugs for Stada.
The deal with the German company is Takeda’s fourth divestment in the past six months, and the Japanese player said it contributes to its goal of divesting around $10 billion worth of non-core assets to focus on its five key business areas while additionally reflecting its commitment to accelerating its deleveraging following its acquisition of Shire.
Other deals Takeda has inked over the past months include the divestment of Xiidra to Novartis for up to $5.3 billion in July and the sale of TachoSil to Ethicon for $400 million in May. In October, it announced the divestment of non-core assets in the Middle East and Africa to Switzerland’s Acino International for more $200 million.
Stada has been on the acquisition trail this year, most recently announcing plans to buy Czech Republic-headquartered Walmark for an undisclosed sum.
The Czech company employing more than 540 people is said to have a “market-leading” consumer health portfolio in central Europe
The German drugmaker also recently bought six OTC brands, including five skin care products and a pediatric cough remedy, from GlaxoSmithKline as the British market leader moves to divest its consumer health portfolio.