Celltrion signs a $278 million deal with Japan's Takeda
Celltrion acquired rights to market and sell drugs from Tokyo's Takeda Pharmaceutical in the Asia Pacific region for $278 million, the company announced Thursday.
In the deal, it obtained rights for patents, trademarks, approvals and sales of 18 prescription and over-the-counter brands available in nine Asia Pacific markets, including Korea, Thailand, Taiwan, Hong Kong, Macau, the Philippines, Singapore, Malaysia and Australia.
These brands recorded $140 million of combined sales in these markets in fiscal 2018. Following the deal, they will be distributed by Celltrion Pharm and Celltrion Healthcare in the Asia Pacific markets.
The transaction is scheduled to be completed by the fourth quarter, and the product rights acquired will be placed under Celltrion’s Singapore office.
After receiving technology transfer, the products will be manufactured at Celltrion Pharm’s manufacturing facility in Jincheon, North Chungcheong. Until the technology transfer fully takes place, Takeda has agreed to manufacture and supply products to Celltrion.
The acquired portfolio includes Nesina and Actos, both treatments for diabetes, Edarbi for hypertension and also Whituben, a well-known over-the-counter drug for cold remedy.
Despite the large demand for diabetes and hypertension treatments in Korea, the local market had been dominated by imported drugs from multinational companies. The deal will help Celltrion ensure a stable supply for Korean patients, the company said.
“With 17 million diabetes and hypertension patients in Korea alone and more than 60 percent of the elderly population having three or more chronic diseases, the market for chronic disease drugs is becoming more important,” Celltrion CEO Kee Woo-sung said. “This transaction will help us contribute to improved public healthcare and more resilient National Health finance in this super-aged society.”
BY KIM YEON-AH [firstname.lastname@example.org]