‘This agreement strengthens our presence in our core emerging markets where we have established ourselves as a leading high-quality pharmaceutical provider’, says Steffen Saltofte, CEO of Acino. ‘It will allow us to expand our offering in both key therapeutic areas and key markets; and ensure that patients in emerging markets will have continued access to a broad range of high-quality affordable medicines as part of the Acino portfolio’.
As part of this acquisition, Acino will acquire the rights to selected pain management, gastroenterology, cardiovascular and respiratory products from Takeda’s prescription pharmaceutical and OTC portfolio. The agreement will enable Acino to reinforce its position in the following key markets: United Arab Emirates, Egypt, Saudi Arabia, Turkey, Ukraine and South Africa, as well as several other countries. It is anticipated that a number of employees, primarily sales and marketing professionals supporting the portfolio, will transition to Acino at closing.
Additionally, both parties will enter into a multi-year manufacturing and supply agreement, under which Takeda will continue to manufacture the products on behalf of Acino.
Acino agreed to acquire the assets from Takeda for a total value in excess of $200m. The acquisition is subject to approvals by the relevant authorities and is expected to close during January – March 2020. Acino was advised by Rothschild & Co (financial advisor), Latham & Watkins (legal advisor), PwC (financial consultant) and McKinsey (commercial advisor).