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Takeda, Teva set up new business venture Teva Takeda Yakuhin Ltd in Japan
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Osaka, Japan
Saturday, April 02, 2016, 09:00 Hrs  [IST]

Takeda Pharmaceutical Company Limited and Teva Pharmaceutical Industries Ltd. announced the establishment of Teva Takeda Yakuhin Ltd. The newly established business venture announced that Hiroshi Matsumori has been appointed chief executive officer and president of Teva Pharma Japan Inc (Teva Pharma). Matsumori has over 34 years of rich and diverse experience in the pharmaceutical industry including in the generics and LLP businesses, the core business of the newly established business venture. Matsumori will assume this position on April 25, 2016, and will be based in Nagoya.

As a result of this strategic move, Takeda, an R&D driven pharmaceutical company which has a long history as a leading company in Japan, and Teva, among the top ten pharmaceutical companies in the world and the global leader in generics, will meet the wide-ranging needs of patients and growing importance of generics in Japan through the provision of off-patent drugs (products whose patents have expired).

“We are delighted to begin this new business venture with Teva in Japan,” said Masato Iwasaki, Ph.D., president of Takeda’s Japan Pharma Business Unit. “Takeda’s leading brand reputation and strong distribution presence in Japan combined with Teva’s global supply chain and production network, expertise in commercial deployment and R&D, and the understanding of science, brings forward a new, collaborative business model in line with government objectives and ultimately serving millions of patients.”

“We are very much looking forward to the new business venture with Takeda as our partner in Japan and we welcome Matsumori as the newly appointed CEO, whose extensive knowledge in the generics and LLP businesses will help position the company for future success.” said Siggi Olafsson, president and CEO of Teva Global Generic Medicines. “Japan is one of the fastest growing generics markets in the world, and we expect its high growth to continue driven by social requirements such as increased patients’ needs for a stable supply of affordable high quality medicines and reduction of healthcare expenditures. We believe that we can contribute to the healthcare industry, medical professionals and most important, patients in Japan.”

Teva Takeda Yakuhin is established by the name change of Taisho Pharm. Ind., Ltd. (Taisho Pharm),and a subsidiary of Teva, which runs a generic drug business and transfers Takeda’s long listed products (LLP) business in Japan as of the date.

 

Courtesy – Pharmabiz



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