Wed, Nov. 30, 11:47 AM
- The Financial Time reports that Takeda Pharmaceutical (OTCPK:TKPHF) lost its patience with Valeant Pharmaceuticals (VRX -7.9%) over its alleged inability to provide key information about Salix. A person close to the matter said the negotiations suffered because Valeant was unable to provide enough information about Salix's business and financials due to all the distractions and disruptions Valeant has endured over the past year.
- Another source said the potential deal still has legs if Valeant can get its act together and deliver the information.
- Takeda declined to comment on the situation while Valeant could not be immediately reached for comment.
Wed, Nov. 30, 10:37 AM
- The woes continue for Valeant Pharmaceuticals (VRX -8.3%). According to the WSJ, negotiations with Takeda Pharmaceutical (OTCPK:TKPHF) over the $10B sale of Salix Pharmaceuticals have broken down due to last-minute disagreements.
- Valeant is reportedly moving ahead with plans to build a direct sales force to promote Xifaxan (rifaximin). It acquired Salix in 2015 for $14.5B.
Tue, Nov. 1, 3:41 PM
- Battered and bruised Valeant Pharmaceuticals (VRX +16.3%) shows some life. Shares are up on increased volume in response to the news that the company is in talks to sell its Salix unit to Takeda (OTCPK:TKPHF)(OTCPK:TKPYY) for $10B.
- Valeant bought Salix last year for $158 per share which valued Salix at $14.5B at the time.
- If the transaction goes through, it will go a long way towards easing Valeant's $30B debt burden.
- Update: In a statement, Valeant confirms that it is in discussions with third parties related to certain divestitures including, but not limited to, Salix.
Nov. 30, 2015, 6:51 AM
- Teva Pharmaceutical Industries (NYSE:TEVA) and Takeda Pharmaceutical (OTCPK:TKPHF)(OTCPK:TKPYY) form a joint venture in Japan with the aim of building a leadership position in the fast-growing generic medicines there. The government, trying to address the medical needs of its aging population, intends to reach 80% generic penetration in its drugs market by the end of fiscal year 2020.
- The new business, expected to start operating in Q2 2016, will leverage Teva's extensive generics portfolio with Takeda's brand presence and distribution capabilities. Teva will be the majority owner with a 51% stake while Takeda will own 49%.
Mar. 19, 2013, 8:18 AM
NPS Pharmaceuticals (NPSP) has bought back the none-North American rights to two drugs from Takeda for $50M in shares and possible milestone payments, giving NPS with full global rights to the treatments. The drugs are Revestive (Gattex in the U.S.), a medicine for short bowel syndrome, and Preotact, a thyroid hormone replacement therapy. (PR)| Mar. 19, 2013, 8:18 AM
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