The company has divested TachoSil surgical patch to J&J and Xiidra ophthalmic solution to Novartis.
Following its acquisition of Shire, Takeda Pharmaceutical Company Limited is busy working to deleverage itself and position the company for long-term growth in its core business. The strategic plan involves divesting non-core activities, and it recently made its first two moves pushing this forward.
Novartis has agreed to purchase Takeda’s Xiidra (lifitegrast ophthalmic solution) 5% product for up to $5.3 billion ($3.9 billion in cash upfront and up to $1.9 billion in milestone payments), while Johnson & Johnson’s (J&J’s) Ethicon business has agreed to acquire Takeda’s TachoSil Fibrin Sealant Patch for $400 million; both deals are expected to close in the second half of 2019.
According to Takeda president and CEO Christophe Weber, the company is working “working to strategically simplify and optimize” its portfolio while also investing in growth drivers and focusing on its core areas, including gastroenterology, rare diseases, plasma-derived therapies, oncology and neuroscience.
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