Takeda Prepares to Shore up Finances Ahead of Shire Deal
We have covered a lot of news relating to the much talked about Takeda and its financial stretch to pull in the Shire acquisition, but it seems progress is being made.
According to PharmaFile, Takeda is beginning to trim down its business and looking to bring in some much-needed cash to pay down the deal, with a divestment of its stake in Guangdong Techpool Bio-Pharma.
Takeda had acquired its stake in the business after its $14 billion takeover of Nycomed in 2010, which held a 51.34% majority stake in the company.
The company’s portfolio will be taken over by Shanghai Pharmaceutical holding, which will boost its current stake in Techpool from 40% to 67%.
“This acquisition marks a strategic milestone for Shanghai Pharma in developing into a branded pharmaceutical manufacturer, and in building a first-class, domestic marketing organisation,” said Mr. Zhou Jun, Chairman of Shanghai Pharma. “We believe via acquisitions such as this, and our overall strategy, Shanghai Pharma has an important role to play in the China governments ‘Healthy China’ policy.
This isn’t the last deal that Takeda will be embarking on, as it prepares for life as a pharma company on a large scale once the Shire deal completes. There are also a number of job cuts expected in the near future as it has suggested it will need to cut away 6% to 7% of its global workforce.