The Japanese company, which is still digesting last year’s $62 billion acquisition of Shire, said it also agreed to sell its Xiidra lifitegrast ophthalmic solution to Novartis (NYSE:NVS) for $3.4 billion, plus $1.9 billion in milestones.
“These initial divestitures represent important steps in advancing the growth strategy Takeda outlined following our transformational acquisition of Shire earlier this year,” president & CEO Christophe Weber said in prepared remarks. “We are working to strategically simplify and optimize our portfolio, while also rapidly deleveraging and continuing to invest in our growth drivers as a global, values-based, R&D-driven biopharmaceutical leader.”
Adjusted net TachoSil sales reached $155 million during fiscal 2018, Takeda said. About 80 employees are slated to move to Ethicon as part of the deal, the Japanese company said. Although Ethicon is buying the assets and licenses for the patch, Takeda is holding on to the plant in Linz, Austria, that makes TachoSil. A long-term manufacturing deal is due to go into place after the transaction’s expected close during the second half of the year, Takeda said.