Takeda, Teva to Form Partnership in Japan For Generic Drug Sales
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Takeda Pharmaceutical Co. is forming a partnership with Teva Pharmaceutical Industries Ltd. to sell generic drugs and certain off-patent medicines in Japan, seeking to expand jointly in the Asian country as the government pushes for use of more affordable treatments.
Teva, based in Israel, will own a 51 percent stake in the venture and Takeda, Japan’s biggest drugmaker, will have a 49 percent share, according to a statement sent to the Tokyo Stock Exchange statement Monday. The venture will work as an independent company and will start operations in the second quarter of 2016.