Takeda Completes Sale of TachoSil® to Corza Health
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) has completed the sale of TachoSil® Fibrin Sealant Patch to Corza Health for €350 million. This transaction allows Corza to acquire the necessary assets and licenses for TachoSil®, while Takeda retains the manufacturing facility in Linz, Austria, and will exclusively produce TachoSil® under a long-term supply agreement. The proceeds from this sale will aid in reducing Takeda's debt as part of a strategy to achieve a target of 2x net debt/adjusted EBITDA by FY 2023.
- Completion of €350 million sale of TachoSil® to Corza Health enhances liquidity.
- Long-term supply agreement ensures continued revenue from manufacturing TachoSil® products.
- Proceeds from the sale will be used to reduce debt, steering towards 2x net debt/adjusted EBITDA target.
- None.
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced that it has completed the previously announced sale of TachoSil® Fibrin Sealant Patch (“TachoSil®”) to Corza Health, Inc. (“Corza”) for
TachoSil® is a surgical patch trusted by medical professionals globally to deliver safe, fast and reliable bleeding control. Under the terms of the transaction, Corza has acquired the assets and licenses that support the development and commercialization of TachoSil®, while Takeda maintains ownership of the manufacturing facility in Linz, Austria. Takeda has entered into a long-term manufacturing & supply agreement, under which it will continue to exclusively manufacture TachoSil® products and supply them to Corza.
Takeda remains focused on executing its long-term growth strategy to optimize our business mix around our key business areas, and simplifying our operations to better serve patients by delivering innovative treatments in these areas.
The Company intends to use the proceeds from the sale to reduce its debt and accelerate deleveraging towards its target of 2x net debt/adjusted EBITDA within Fiscal Years 2021–2023.
Takeda has sustained momentum in its divestiture strategy in 2020 and exceeded its
About Takeda Pharmaceutical Company Limited
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to discover and deliver life-transforming treatments, guided by our commitment to patients, our people and the planet. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Genetic and Hematology, Neuroscience, and Gastroenterology (GI). We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people's lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline.
Our employees are committed to improving quality of life for patients and to working with our partners in health care in approximately 80 countries.
For more information, visit https://www.takeda.com.
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FAQ
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