TEL AVIV, Israel–(BUSINESS WIRE)–Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), who holds (through its Japanese affiliates) with Takeda a joint business venture (the “BV”) in the Japanese market, announced today a new strategy for its local commercial operations. Nearly five years since its inception, and following an in-depth review of market opportunities, the BV’s new strategy will focus on commercializing a selection of complex generics, specialty assets and other pipeline opportunities.
This shift will include a divestment of the majority of the BV’s generic and operational assets to Nichi-Iko Pharmaceutical Co., Ltd. This transaction is expected to close by early 2021.
The BV will retain approximately 20 generic molecules and several pipeline assets, as well as its robust portfolio of authorized generics, LLPs and specialty assets. The BV will seek to address unmet patient needs with products from its portfolio and pipeline and will continue to combine Teva’s deep marketing expertise, commercial and medical excellence, coupled with financial rigor, with Takeda’s leading brand reputation and strong distribution presence in Japan.
Gianfranco Nazzi, Executive Vice President, International Markets Commercial, said: “The Teva and Takeda business venture has always aimed to address the wide-ranging needs of patients and healthcare professionals in Japan. Our new strategy will allow each of the parties to leverage its core strengths, and ultimately better serve the Japanese patients. For Teva, and in line with the company’s strategic objectives, the new model presents a chance to drive better performance by focusing our Japan business on a portfolio of select generics and pipeline of specialty assets, while continuing to put patients and healthcare professionals at the center of our strategy.”
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been developing and producing medicines to improve people’s lives for more than a century. We are a global leader in generic and specialty medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with our established presence in generics, we have significant innovative research and operations supporting our growing portfolio of specialty and biopharmaceutical products. Learn more at www.tevapharm.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 re: our new strategic focus in the Japanese market, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to:
and other factors discussed in our Quarterly Report on Form 10-Q for the first quarter of 2020 and our Annual Report on Form 10-K for the year ended December 31, 2019, including in the sections captioned “Risk Factors” and “Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.
Contacts
IR Contacts
United States
Kevin C. Mannix (215) 591-8912
Israel
Ran Meir 972 (3) 926-7516
PR Contacts
United States
Doris Li (973) 265-3752
Israel
Yonatan Beker
972 (54) 888 5898
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