(RTTNews) - Takeda Pharmaceutical Company Limited (TAK) has agreed to divest a portfolio of select non-core prescription pharmaceutical products sold predominantly in Europe and Canada to Cheplapharm. Takeda will receive an upfront payment of approximately $562 million. The sale supports the company's continued divestiture program.
The company said the portfolio to be divested is comprised of non-core prescription pharmaceutical products in a variety of therapeutic categories sold predominantly in Europe and Canada. This includes Cardiovascular/Metabolic and Anti-Inflammatory products along with Calcium.
Takeda plans to use the proceeds from the transaction to reduce its debt and accelerate de-leveraging toward its target of 2x net debt/adjusted EBITDA within fiscal year 2021 to 2023.
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