Teva Pharmaceutical Industries Ltd. (NYSE and TASE:TEVA) and
Takeda Pharmaceutical Company Limited (TSE:4502) announce the
establishment of Teva Takeda Yakuhin Ltd. (“Teva Takeda Yakuhin”).
The newly established business venture is pleased to announce that
Mr. Hiroshi Matsumori has been appointed Chief Executive Officer
and President of Teva Pharma Japan Inc. (“Teva Pharma”). Mr.
Matsumori has over 34 years of rich and diverse experience in the
pharmaceutical industry including in the generics and LLP
businesses, the core business of the newly established business
venture. Mr. Matsumori will assume this position on April 25, 2016,
and will be based in Nagoya.
As a result of this strategic move, Takeda, an R&D driven
pharmaceutical company which has a long history as a leading
company in Japan, and Teva, among the top ten pharmaceutical
companies in the world and the global leader in generics, will meet
the wide-ranging needs of patients and growing importance of
generics in Japan through the provision of off-patent drugs
(products whose patents have expired).
“We are delighted to begin this new business venture with Teva
in Japan,” said Masato Iwasaki, Ph.D., President of Takeda’s Japan
Pharma Business Unit. “Takeda’s leading brand reputation and strong
distribution presence in Japan combined with Teva’s global supply
chain and production network, expertise in commercial deployment
and R&D, and the understanding of science, brings forward a
new, collaborative business model in line with government
objectives and ultimately serving millions of patients.”
“We are very much looking forward to the new business venture
with Takeda as our partner in Japan and we welcome Mr. Matsumori as
the newly appointed CEO, whose extensive knowledge in the generics
and LLP businesses will help position the company for future
success,” said Siggi Olafsson, President and CEO of Teva Global
Generic Medicines. “Japan is one of the fastest growing generics
markets in the world, and we expect its high growth to continue
driven by social requirements such as increased patients' needs for
a stable supply of affordable high quality medicines and reduction
of healthcare expenditures. We believe that we can contribute to
the healthcare industry, medical professionals and most important,
patients in Japan.”
* Teva Takeda Yakuhin is established by the name change of
Taisho Pharm. Ind., Ltd. (“Taisho Pharm”), and a subsidiary of
Teva, which runs a generic drug business and transfers Takeda’s
long listed products (LLP) business in Japan as of the date. Please
refer to the press release on December 28, 2015 below regarding
details of the establishment of Teva Takeda Yakuhin and Teva Takeda
Pharma.
http://www.takeda.com/news/2015/20151228_7258.html
【Outline of Teva Takeda Yakuhin Ltd.】
(1) Company name
Teva Takeda Yakuhin Ltd.
(2) Location
3 Ohara-ichiba, Koka-cho, Koka City,
Shiga Pref.
(3) Representative
Representative Director: Ichiro
Kikushige (4) Scope of business
Development, manufacturing, sales and marketing of pharmaceutical
products (5) Capital JPY 3,169milion
(6) Date of name change April 1st, 2016
(7) Number of shares issued
12 Shares
(8) Fiscal year end December 31st (9)
Major shareholders and ratio of shares held
Teva Pharma Japan Inc. 100%
*Name to be changed to Teva Takeda Pharma
Ltd. in or after October 2016.
【Outline of Teva Takeda Pharma Ltd.】
(1) Company name
Teva Takeda Pharma Ltd. (2) Location
1-24-11, Taiko, Nakamura-ku, Nagoya
City
(3) CEO/President Hiroshi Matsumori (4)
Scope of business Development,
manufacturing, sales and marketing of pharmaceutical products (5)
Capital JPY 154,723milion (6) Date of
name change In or after October, 2016
(TBD) (7) Number of shares issued 1301
Shares (8) Fiscal year end December
31st (9) Major shareholders and ratio of shares held
Teva Holdings KK
Takeda Pharmaceutical Company Limited
51%49%
【Anticipated effects of this event to the consolidated profit
& loss】
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 pharmaceutical business and the addition of products
from Takeda and Teva to the new business venture. As a result of
the transfer of intangible assets of long listed products from
Takeda to Teva Takeda Yakuhin, Takeda expects to record
approximately 100 billion yen of "gains on transfer of business"
under "other operating income" in its FY2016 consolidated
financials. Such amount is expected to be finalized by Takeda’s
first quarter 2016 earnings announcement. The new business venture
is expected to be accretive to Teva’s non GAAP EPS beginning in
2016. Additional details about the financial impact of the
transaction were outlined in Takeda’s TSE Filing of December 28,
2015, and will be revised and reflected in Takeda’s 2016 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 used by 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 2015 amounted to $19.7
billion. For more information, visit www.tevapharm.com.
About Takeda Pharmaceutical Company
Takeda Pharmaceutical Company Limited is a global,
R&D-driven pharmaceutical company committed to bringing better
health and a brighter future to patients by translating science
into life-changing medicines. Takeda focuses its research efforts
on oncology, gastroenterology and central nervous system
therapeutic areas. It also has specific development programs in
specialty cardiovascular diseases as well as late-stage candidates
for vaccines. Takeda conducts R&D both internally and with
partners to stay at the leading edge of innovation. New innovative
products, especially in oncology and gastroenterology, as well as
its presence in emerging markets, fuel the growth of Takeda. More
than 30,000 Takeda employees are committed to improving quality of
life for patients, working with our partners in health care in more
than 70 countries. For more information, visit
http://www.takeda.com/news.
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® (which faces competition from
orally-administered alternatives and a generic version); our
ability to consummate the acquisition of Allergan plc’s worldwide
generic pharmaceuticals business (“Actavis Generics”) and to
realize the anticipated benefits of such acquisition (and the
timing of realizing such benefits); the fact that following the
consummation of the Actavis Generics acquisition, we will be
dependent to a much larger extent than previously on our generic
pharmaceutical business; potential restrictions on our ability to
engage in additional transactions or incur additional indebtedness
as a result of the substantial amount of debt we will incur to
finance the Actavis Generics acquisition; the fact that for a
period of time following the consummation of the Actavis Generics
acquisition, we will have significantly less cash on hand than
previously, which could adversely affect our ability to grow; 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 investments in our pipeline of specialty and other
products; our ability to identify and successfully bid for suitable
acquisition targets or licensing opportunities, or to consummate
and integrate acquisitions; 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; competition for our generic
products, both from other pharmaceutical companies and as a result
of increased governmental pricing pressures; 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
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 complex Medicare
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, 2015 and
in our other filings with the U.S. Securities and Exchange
Commission (the "SEC"). 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, whether as a result of new information, future events
or otherwise.
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For Takeda Pharmaceutical Company
Limited:For investors:Noriko Higuchi, +81
3-3278-2306noriko.higuchi@takeda.comorFor media:Tsuyoshi Tada, +81
3-3278-2417tsuyoshi.tada@takeda.comorFor Teva
Pharmaceutical Industries Ltd.:For investors:Kevin C. Mannix
– United States - +215-591-8912Ran Meir – United States -
+215-591-3033Tomer Amitai – Israel - +972 (3) 926-7656orFor
media:Iris Beck Codner – Israel - +972 (3) 926-7687Denise Bradley –
United States - +215-591-8974Mikiko Yamada – Japan -
+81-52-459-2001
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