Business Wire

Takeda Completes Sale of Xiidra® to Novartis

Share

Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced the completion of its sale of its Xiidra® (lifitegrast ophthalmic solution) 5% product to Novartis for $3.4 billion upfront in cash and up to an additional $1.9 billion in potential milestone payments.

“The completion of this transaction marks an important step in executing Takeda’s strategy, which is focused on optimizing our portfolio around the key business areas that are core to our long-term growth and creating the most value for our patients and shareholders,” said Christophe Weber, President and Chief Executive Officer of Takeda. “We are making solid progress on our commitment to simplify our portfolio and meet our deleveraging targets, while continuing to deliver highly-innovative medicines and transformative care to patients around the world and enhance long-term shareholder value. We are proud of the benefits Xiidra® has created for patients as part of Takeda, and confident that Novartis will be a strong steward of this innovative therapeutic.”

Takeda intends to use the proceeds from the sale to reduce its debt and accelerate deleveraging toward its target of 2x net debt/adjusted EBITDA in the medium term following closing of the Shire acquisition. As of March 31, 2019, Takeda has 5,048.9 billion yen in net debt outstanding and its net debt/adjusted EBITDA ratio is 4.7x. Takeda continues to target a net debt/adjusted EBITDA ratio of 2x within 3 to 5 years.

Xiidra® is the first and only prescription treatment approved by the U.S. Food and Drug Administration for both signs and symptoms of dry eye disease, with a mechanism of action that targets inflammation.

About Takeda Pharmaceutical Company Limited

Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to bringing Better Health and a Brighter Future to patients by translating science into highly-innovative medicines. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Gastroenterology (GI), Rare Diseases, and Neuroscience. We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people's lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline. Our employees are committed to improving quality of life for patients and to working with our partners in health care in approximately 80 countries and regions.

For more information, visit https://www.takeda.com

Forward-Looking Statements

This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda’s future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward looking statements often include the words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “will”, “may”, “should”, “would”, “could” “anticipates”, “estimates”, “projects” or words or terms of similar substance or the negative thereof. Any forward-looking statements in this document are based on the current assumptions and beliefs of Takeda in light of the information currently available to it. Such forward-looking statements do not represent any guarantee by Takeda or its management of future performance and involve known and unknown risks, uncertainties and other factors, including but not limited to: the economic circumstances surrounding Takeda’s business, including general economic conditions in Japan, the United States and worldwide; competitive pressures and developments; applicable laws and regulations; the success of or failure of product development programs; decisions of regulatory authorities and the timing thereof; changes in exchange rates; claims or concerns regarding the safety or efficacy of marketed products or products candidates; and post-merger integration with acquired companies, any of which may cause Takeda’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by such forward-looking statements. For more information on these and other factors which may affect Takeda’s results, performance, achievements, or financial position, see “Item 3. Key Information—D. Risk Factors” in Takeda’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/reports/sec-filings/ or at www.sec.gov. Neither Takeda nor its management gives any assurances that the expectations expressed in these forward-looking statements will turn out to be correct, and actual results, performance or achievements could materially differ from expectations. Persons receiving this press release should not place undue reliance on forward looking statements. Takeda undertakes no obligation to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make. Past performance is not an indicator of future results and the results of Takeda in this press release may not be indicative of, and are not an estimate, forecast or projection of Takeda’s future results.

Contact information

Investor Relations:
Takashi Okubo
+81-(0)3-3278-2306
takeda.ir.contact@takeda.com

Media Inquiries:
Julia Ellwanger (Outside of Japan)
+1-224-554-7681
julia.ellwanger@takeda.com

Kazumi Kobayashi (Japan)
+81 (0)3-3278-2095
kazumi.kobayashi@takeda.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

nCipher Introduces Cloud-first Architecture, Bringing Security and Control to Public and Private Clouds29.1.2020 11:00:00 EETPress release

nCipher Security, an Entrust Datacard company and provider of trust, integrity and control for business critical information and applications, announces two new additions to its nShield® hardware security module (HSM) portfolio – nShield Web Services Option Pack and nShield Container Option Pack – that make it simpler to deploy applications in the cloud and bring greater security and control to public and private clouds. nShield Web Services Option Pack simplifies deployment for cloud-first data centres. nShield Web Services Option Pack provides a REST API between applications requiring cryptographic key and data protection services and nShield HSMs, enabling seamless application deployment underpinned by high-assurance nShield HSMs, which can dynamically scale to meet the needs of cloud-ready data centers. Customers can also use their own load balancing appliances to handle the HSM workload, simplifying the HSM deployment and configuration, and ensuring the best utilization of their H

Denenchofufutaba Gakuen, NTT Group Start a Joint Study to Create Smart Campus Solutions29.1.2020 10:32:00 EETPress release

NTT Group (Nippon Telegraph and Telephone Corporation (Hereinafter, NTT), NTT DATA Corporation, NTT COMWARE Corporation, NTT Communications Corporation, NTT Ltd., Nippon Telegraph and Telephone East Corporation (Hereinafter, NTT East)) will begin a joint study with Denenchofufutaba Gakuen in order to develop smart campus solutions that will provide safety and security at schools. NTT Group implements technology of public safety solution that will draw on the proven implementation for the City of Las Vegas. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200128005916/en/ Solution Overview (Graphic: Business Wire) 1. Background In recent years, there have been several crimes and incidents involving students in school facilities, and resulting in requests to improve safety measures in addition to crime prevention activities by national and local governments. Furthermore, with the introduction of new educational guidelines, the w

Panasonic Develops High-Power Blue WBC Technology to Revolutionize DDL Applications on Microfabrication29.1.2020 09:11:00 EETPress release

On January 29, 2020, Panasonic Corporation announced it has succeeded in demonstrating the world's highest brightness blue laser. This has been achieved by using the wavelength beam combining (WBC) technology [1] on a direct diode laser (DDL) to produce a high quality output beam [2]. With this technology, power scaling is enabled while maintaining the beam quality by simply increasing the number of laser sources. This demonstration opens the door to laser intensities that could be two orders of magnitude higher than conventional blue laser systems. This technology will contribute to the emerging microfabrication processes, whose demand is expected to grow in industrial applications, such as in the automotive industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200128005907/en/ Wavelength Beam Combining (WBC) technology (Graphic: Business Wire) The automotive industry is moving towards “electrification” and “miniaturizat

NTT Group to Launch Asia's First Smart City Proof of Concept Collaborating with Cyberview and Allo in Malaysia29.1.2020 09:00:00 EETPress release

As part of the Japanese Ministry of Internal Affairs and Communications’ FY 2019 project "Research on Smart City Model for Solving Social Problems in Malaysia", based on the smart city initiatives which has been started with the City of Las Vegas, United States, NTT Group (Nippon Telegraph and Telephone Corporation (Hereinafter, NTT), NTT Communications Corporation, NTT Ltd., InfoCom Research, Inc., NTT DATA Corporation, NTT COMWARE Corporation) will conduct Asia's one of the first Smart City Proof of Concept (PoC) in the Cyberjaya area of Malaysia from February 2020, in cooperation with local stakeholders. Through this PoC, NTT Group aims to establish a sustainable business model while verifying the possibility of solving social issues in Asia, utilizing the technologies and know-how accumulated in the smart city field in the United States. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200128005904/en/ (Graphic: Business W

Kioxia Appoints Masaki Momodomi as Chief Technology Officer29.1.2020 07:00:00 EETPress release

Kioxia Holdings Corporation today announced the appointment of Masaki Momodomi as Chief Technology Officer (CTO) of Kioxia, effective immediately. Mr. Momodomi fills the role of Former CTO Nobuo Hayasaka, who has been appointed as President and Chief Executive Officer (CEO) of Kioxia. Mr. Momodomi has an accomplished background in the memory industry, bringing over 40 years of experience across roles at Kioxia, Toshiba Memory and Toshiba Corporation. Following Toshiba Memory’s separation from Toshiba Corporation, Mr. Momodomi was named director of Toshiba Memory, now Kioxia’s Institute of Memory Technology Research and Development. Previously, he served as director of Toshiba Corporation’s Center of Semiconductor Research and Development. A pioneer in the memory field, in 1987, Mr. Momodomi co-authored a dissertation on Toshiba’s invention of NAND Flash memory, playing a vital role in the exponential growth of the now ubiquitous technology. Mr. Momodomi graduated from Kyushu University

Kioxia Appoints Nobuo Hayasaka as President and CEO29.1.2020 07:00:00 EETPress release

Kioxia Holdings Corporation today announced that the Board of Directors has appointed Nobuo Hayasaka as President and CEO of Kioxia, effective immediately. Dr. Hayasaka has served as Acting President and CEO since July 12, 2019, during Former President and CEO Yasuo Naruke’s medical leave of absence. Dr. Naruke notified the company’s Board of Directors of his desire to step down as President, CEO and member of the board as he continues to focus on his health. “Dr. Naruke has been an outstanding leader for our company over many years, and we thank him for the invaluable contribution he has made to shaping us into the company we are today.” said Stacy J. Smith, Executive Chairman of Kioxia. “This year presents an exciting opportunity for Kioxia, and President Hayasaka has the skills, experience and the full backing of our Board of Directors, management and employees as we move toward a new era of memory. I look forward to working closely with President Hayasaka and the rest of the execut

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom