Takeda sells non-Colcrys URL Pharma to Sun Pharmaceutical
Takeda Pharmaceuticals U.S.A. has entered into a definitive agreement to sell the non-Colcrys (colchicine, USP) URL Pharma generic business to Caraco Pharmaceutical Laboratories, a wholly-owned subsidiary of Sun Pharmaceutical Industries.
Takeda acquired URL Pharma earlier this year, adding Colcrys to its portfolio. Shortly after the acquisition of URL Pharma, Takeda successfully integrated all commercial and R&D activities associated with Colcrys. As per the agreement with Caraco, Takeda will retain ownership of Colcrys and is exclusively responsible for the marketing and promotion of Colcrys. Upon completion of the sale, the non-Colcrys assets of URL Pharma will be owned and managed by Caraco. The deal is subject to satisfaction of customary closing conditions, including applicable regulatory approvals.
“The addition of Colcrys has allowed Takeda to become a leader in gout, which is part of our strategy to focus on best-in-class, innovative pharmaceuticals,” said Douglas Cole, president of Takeda. “URL Pharma has many great assets and Takeda was committed to finding a buyer for the remaining business that would be dedicated to leveraging all that URL Pharma has to offer.”
The impact from this transaction on Takeda’s fiscal 2012 consolidated financial statements is limited, and Takeda does not find it necessary to revise such forecasts at this point of time.