Takeda to sell portfolio of assets to Stada for $660M; shares up 4%

Following through on its plan to deleverage after the Shire merger, Takeda Pharmaceutical Company (TAK +3.6%) has agreed to sell a portfolio of over-the-counter (OTC) and prescription pharmaceutical products sold in Russia, Georgia and certain CIS countries to STADA Arzneimittel AG for $660M. The transaction should close this quarter.

The deal is the company’s fourth in the last six months as its advances toward its goal of divesting ~$10B in non-core assets.

https://seekingalpha.com/news/3514468-takeda-sell-portfolio-assets-stada-660m-shares-4-percent