Medicines developer and producer Teva Pharmaceutical Industries Ltd (NYSE:TEVA) (TASE:TEVA) will pursue a new strategic focus in the Japanese market, the company announced on Thursday.
Nearly five years after it was established, Teva's joint business venture with Takeda in Japan will shift its focus to commercialising a selection of complex generics, specialty assets and other pipeline opportunities.
In conjunction with this decision, the Japanese business venture has agreed to divest the majority of its generic and operational assets to Nichi-Iko Pharmaceutical Co Ltd. This transaction is expected to be completed by early 2021.
The business venture will retain approximately 20% of its molecules and several pipeline assets, as well as its portfolio of authorised generics, LLPs and specialty assets.
"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 centre of our strategy," said Gianfranco Nazzi, Teva's executive vice president of International Markets Commercial.
CivicaScript launches droxidopa for symptomatic neurogenic orthostatic hypotension
Padagis' Naloxone HCl Nasal Spray 4 mg obtains extended shelf-life of 36 months
ANI Pharmaceuticals announces US launch of Nitazoxanide Tablets
Newbury Pharmaceuticals secures approval for Macitentan in Denmark
Mallinckrodt and Endo to merge in USD6.7bn deal to create pharmaceutical leader
Genomma Lab Internacional announces quarterly dividend
Aveva Drug Delivery systems introduces generic Fentanyl Transdermal Patch in US
Independent Pharmacy Cooperative signs cooperation agreement with Legacy Pharmacy Group
ILIKOS Consulting partners with Jordan Center for Pharmaceutical Research
Axsome Therapeutics settles patent litigation with Teva over AUVELITY
Breckenridge Pharmaceutical's Everolimus Tablets for Oral Suspension receive US FDA approval
Newbury Pharmaceuticals secures generic approval for pomalidomide in Denmark
Newbury Pharmaceuticals secures generic approval for Bosutinib in Norway
Guangzhou Fermion Technology partners with Simcere Pharmaceutical