18 December 2012 | News | By BioSpectrum Bureau
Sun Pharma buys Takeda subsidiary
Singapore: Takeda Pharmaceutical Company announced that Takeda's wholly-owned subsidiary, Takeda Pharmaceuticals US (TPUSA) has entered into a definitive agreement with Caraco Pharmaceutical Laboratories, a wholly-owned subsidiary of Sun Pharmaceutical Industries for the sale of the non-Colcrys (colchicine) URL Pharma, generic business.
With the acquisition of URL Pharma earlier this year, Takeda has become a leader in gout therapy by adding Colcrys to its portfolio. Colcrys is the only FDA-approved single-ingredient oral colchicine product available in the US Net sales for Colcrys totalled $155 million from June 1-to-September 30, 2012.
Shortly after the acquisition of URL Pharma by Takeda's wholly-owned subsidiary, Takeda America Holdings (TAH) in June this year, TPUSA successfully integrated all commercial and R&D activities associated with Colcrys. As per the agreement with Caraco, TPUSA will retain ownership of Colcrys and is exclusively responsible for the marketing and promotion of Colcrys. Upon completion of the sale, the non-Colcrys assets of URL Pharma will be owned and managed by Caraco. The deal is subject to satisfaction of customary closing conditions, including applicable regulatory approvals.
"The addition of Colcrys has allowed Takeda to become a leader in gout, which is part of our strategy to focus on best-in-class, innovative pharmaceuticals," said Mr Douglas Cole, president of TPUSA. "URL Pharma has many great assets and Takeda was committed to finding a buyer for the remaining business that would be dedicated to leveraging all that URL Pharma has to offer."
The impact from this transaction on Takeda's fiscal 2012 consolidated financial statements is limited, and Takeda does not find it necessary to revise such forecasts at this point of time.