Japan based Takeda Pharmaceutical Company Limited has announced that it has entered into an agreement to divest a portfolio of select non-core products exclusively in Latin America to Hypera S.A., Brazil’s largest pharmaceutical company with a leading position in branded prescriptions, consumer health and branded generics, for a total value of $825M.

The portfolio includes over-the-counter and prescription pharmaceutical products sold in Brazil, Mexico, Argentina, Colombia, Ecuador, Panama and Peru, which are part of Takeda’s Growth & Emerging Markets Business Unit.

This is Takeda’s fifth divestment over the last 12 months, contributing to the Company’s goal to divest approximately $10 billion USD in non-core assets. Takeda intends to use the proceeds from its divestitures to continue to reduce its debt and accelerate rapid deleveraging toward its target of 2x net debt/adjusted EBITDA within March 2022 – March 2024.

“This announcement marks the latest step in Takeda’s strategy of streamlining and optimizing our portfolio while accelerating our deleveraging. By continuing to focus on our key business areas and pipeline of innovative medicines, we will strengthen our position as a R&D driven global biopharmaceutical leader and deliver enhanced value for patients and Takeda shareholders,” said Costa Saroukos, Chief Financial Officer, Takeda.