Please login to the form below

Not currently logged in
Email:
Password:

Teva takes majority stake in Taiyo

Israel's Teva is to take 57 per cent share in Japanese generic medicines manufacturer Taiyo

Teva Pharmaceutical Industries has signed a definite agreement to acquire 57 per cent of the share held in privately-owned Taiyo Pharmaceutical Industry Company for $460m in cash.

Shlomo Yanai, Teva president and chief executive, said: "This acquisition will enable Teva to deliver on our strategic objective of becoming a leading player in the fast-growing Japanese generics market. In fact, we now expect to reach our 2015 target of $1bn sales in Japan ahead of schedule."

The deal is subject to the approval of Taiyo's shareholder meeting, but it is expected to be complete by the end of September.

Meanwhile Teva has won the largest share of a new drug delivery tender by Germany's largest healthcare fund Allgemeinen Orstskrankassen. It secured 152 two-year supply contracts, 27 per cent of the contracts in the tender. The contracts come into effect on June 1.

16th May 2011

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Purple Agency

An Integrated Marketing Communications Agency with a passion for Intelligent Strategy, Compelling Creativity and Professional Delivery....

Latest intelligence

How will the Tories’ historic win shape the NHS?
Paul Midgley and Oli Hudson, of Wilmington Healthcare, explore the impact of December’s General Election result on 2020 and beyond...
CSR 'Christmas Spirit' 2019
OPEN Health champions CSR over Christmas by giving back to the community and increasing our activities and efforts...
Spotlight interview: 15 minutes on Independent Medical Education
Celeste Kolanko, Managing Director of Liberum, OPEN Health takes 15 minutes to answer some key questions on independent medical education....

Infographics