Takeda Provides Further Information about its New Business Venture with Teva
28 Décembre 2015 - 12:00AM
Business Wire
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) and
Takeda Pharmaceutical Company Limited (TSE: 4502) today made the
below follow-up announcement regarding the overview of their new
business venture in Japan which was initially disclosed on November
30, 2015 in the press release titled, "Teva and Takeda establish
unique partnership to meet the wide-ranging needs of patients and
growing importance of generic medicines use in Japan".
[http://ir.tevapharm.com/phoenix.zhtml?c=73925&p=irol-newsArticle&ID=2118543]
- The new business venture, to be
established in or after April 2016, will deliver Teva's
high-quality generic medicines and some of Takeda's long listed
products to patients and healthcare professionals in Japan,
leveraging Takeda's corporate brand and unique distribution network
in Japan and Teva's wide product portfolio and cutting-edge
business efficiency.
- The major long listed products of
Takeda to be transferred to the new business venture in FY2016 are
BLOPRESS, TAKEPRON and BASEN. Total sales of the products to be
transferred in FY2016 were 125 billion yen in FY2014, which was 7%
of Takeda's global revenue. As a result of the transaction,
Takeda’s FY2016 revenue is estimated to decrease by approximately
50 billion yen, based upon current assumptions. LEUPLIN remains at
Takeda, as a product of Takeda Oncology.
- The new business venture, to be owned
51% by Teva and 49% by Takeda, will consist of Teva Takeda Pharma
and Teva Takeda Yakuhin. The details of establishing these
companies by an absorption-type company split are outlined in a
separate release issued by Takeda with the Tokyo Stock Exchange:
"Takeda Announces Details of New Business Venture with Teva in
Japan - Splitting off (absorption-type split) of Takeda's Long
Listed Products Business and its Subsequent Succession by Teva"
(herein called "Takeda's TSE Filing").
[http://www.takeda.com/news/2015/20151228_7258.html]
- Takeda anticipates that the transaction
will be both EPS and cash flow accretive in FY2016 and over the
long-term, due to growth of the generic business and the addition
of products from Takeda and Teva to the new business venture. Some
additional details about the financial impact of the transaction
are outlined in Takeda's TSE Filing, and all will be incorporated
into Takeda's FY2016 forecast which will be communicated in May
2016.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a
leading global pharmaceutical company that delivers high-quality,
patient-centric healthcare solutions to millions of patients every
day. Headquartered in Israel, Teva is the world’s largest generic
medicines producer, leveraging its portfolio of more than 1,000
molecules to produce a wide range of generic products in nearly
every therapeutic area. In specialty medicines, Teva has a
world-leading position in innovative treatments for disorders of
the central nervous system, including pain, as well as a strong
portfolio of respiratory products. Teva integrates its generics and
specialty capabilities in its global research and development
division to create new ways of addressing unmet patient needs by
combining drug development capabilities with devices, services and
technologies. Teva's net revenues in 2014 amounted to $20.3
billion. For more information, visit www.tevapharm.com.
About Takeda Pharmaceutical Company Limited
Located in Osaka, Japan, Takeda (TSE: 4502) is a research-based
global company with its main focus on pharmaceuticals. As the
largest pharmaceutical company in Japan and one of the global
leaders of the industry, Takeda is committed to strive towards
better health for people worldwide through leading innovation in
medicine. Additional information about Takeda is available on
www.takeda.com.
Teva's Safe Harbor Statement under the U. S. Private
Securities Litigation Reform Act of 1995:
This release contains forward-looking statements, which are
based on management’s current beliefs and expectations and involve
a number of known and unknown risks and uncertainties that could
cause our future results, performance or achievements to differ
significantly from the results, performance or achievements
expressed or implied by such forward-looking statements. Important
factors that could cause or contribute to such differences include
risks relating to: our ability to develop and commercialize
additional pharmaceutical products; competition for our specialty
products, especially Copaxone® (including competition from
orally-administered alternatives, as well as from generic
equivalents such as the recently launched Sandoz product)
and our ability to continue to migrate users to our 40 mg/mL
version and maintain patients on that version; our ability to
identify and successfully bid for suitable acquisition targets or
licensing opportunities (such as our pending acquisitions of
Allergan’s generic business and Rimsa), or to consummate and
integrate acquisitions; the possibility of material fines,
penalties and other sanctions and other adverse consequences
arising out of our ongoing FCPA investigations and related matters;
our ability to achieve expected results from the research and
development efforts invested in our pipeline of specialty and other
products; our ability to reduce operating expenses to the extent
and during the timeframe intended by our cost reduction program;
the extent to which any manufacturing or quality control problems
damage our reputation for quality production and require costly
remediation; increased government scrutiny in both the U.S.
and Europe of our patent settlement agreements; our
exposure to currency fluctuations and restrictions as well as
credit risks; the effectiveness of our patents, confidentiality
agreements and other measures to protect the intellectual property
rights of our specialty medicines; the effects of reforms in
healthcare regulation and pharmaceutical pricing, reimbursement and
coverage; governmental investigations into sales and marketing
practices, particularly for our specialty pharmaceutical products;
adverse effects of political or economic instability, major
hostilities or acts of terrorism on our significant worldwide
operations; interruptions in our supply chain or problems with
internal or third-party information technology systems that
adversely affect our complex manufacturing processes; significant
disruptions of our information technology systems or breaches of
our data security; competition for our generic products, both from
other pharmaceutical companies and as a result of increased
governmental pricing pressures; competition for our specialty
pharmaceutical businesses from companies with greater resources and
capabilities; the impact of continuing consolidation of our
distributors and customers; decreased opportunities to obtain U.S.
market exclusivity for significant new generic products; potential
liability in the U.S., Europe and other markets for sales
of generic products prior to a final resolution of outstanding
patent litigation; our potential exposure to product liability
claims that are not covered by insurance; any failure to recruit or
retain key personnel, or to attract additional executive and
managerial talent; any failures to comply with
complexMedicare and Medicaid reporting and payment
obligations; significant impairment charges relating to intangible
assets, goodwill and property, plant and equipment; the effects of
increased leverage and our resulting reliance on access to the
capital markets; potentially significant increases in tax
liabilities; the effect on our overall effective tax rate of the
termination or expiration of governmental programs or tax benefits,
or of a change in our business; variations in patent laws that may
adversely affect our ability to manufacture our products in the
most efficient manner; environmental risks; and other factors that
are discussed in our Annual Report on Form 20-F for the year
ended December 31, 2014 and in our other filings with
the U.S. Securities and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20151227005016/en/
Teva IR:United StatesKevin C. Mannix,
215-591-8912orUnited StatesRan Meir,
215-591-3033orIsraelTomer Amitai, 972 (3) 926-7656orTakeda
IR:JapanNoriko Higuchi, +81-(0)3-3278-2306orTeva
PR:IsraelIris Beck Codner, 972 (3) 926-7687orUnited
StatesDenise Bradley, 215-591-8974orJapanMikiko
Yamada, +81-(0)52-459-2001orTakeda PR:JapanTsuyoshi
Tada, +81-(0)3-3278-2417
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