Takeda Pharmaceutical has signed an agreement to divest its 51.34% stake in Chinese biopharmaceutical joint venture (JV) Guangdong Techpool Bio-Pharma (Techpool) for $280m.
The stake is being acquired by Takeda’s current Techpool JV partner Shanghai Pharmaceutical and a fund managed by SFund International Investment Fund Management.
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The JV focuses on the research, discovery and marketing of urinary protein biopharmaceuticals and for critical care.
Its portfolio of medicines includes Roan, Kallikrein and Kailikang. Roan is used for treating acute and chronic pancreatitis, Kallikrein for mid-moderate acute thrombotic cerebral infarction, while Kailikang is used to treat cerebrovascular disease.
Techpool will retain the management of all three medicines and continue to own and manage existing operations and assets, including its Guangzhou manufacturing facility and current employees.
Takeda China president and Takeda Greater China area head Sean Shan said: “This agreement provides Takeda with an even greater focus to continue to meet the unmet needs of patients in China, and maintain our position as ‘best-in-class’ in our global therapeutic areas of focus, especially gastroenterology and oncology.
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By GlobalData“Takeda is committed to China and will continue to strive to keep patients at the centre of everything we do, both locally and across the globe.”
Shan believes that this divestment to existing JV partners will prevent any impact on the supply of Techpool’s medicines to patients.
After the completion of the deal, Guangzhou Industrial Investment Fund Management is set to buy 49% of Takeda’s stake, of which 51% will be purchased by Shanghai Pharma.
This will raise Shanghai Pharma’s stake in Techpool from approximately 41% to 67%.
Shanghai Pharma chairman Zhou Jun said: “This acquisition marks a strategic milestone for Shanghai Pharma in developing into a branded pharmaceutical manufacturer, and in building a first-class, domestic marketing organisation.”
