Takeda Pharmaceutical Company Limited announced that it has completed the previously announced sale of TachoSil Fibrin Sealant Patch (TachoSil) to Corza Health, Inc for €350 million.
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 $10 billion non-core asset divestiture target, announcing 11 deals since January 2019 to date for a total aggregate value of up to approximately $11.6 billion.
