The operation will accelerate TOWA's overseas business presence and provide high-quality and value-added generic medicines to patients.
TOWA PHARMACEUTICAL CO.,LTD. (Osaka, Japan) (TOWA) and ESTEVE (Barcelona, Spain) announced today that TOWA will acquire 100% ownership of Pensa Investments, S.L. (Pensa), the generics division of the Spanish pharmaceutical company ESTEVE. The purchase price of Pensa will be an all cash deal with an upfront payment of 320 million euros. This acquisition is scheduled to be completed by the end of January 2020.
By acquiring Pensa, TOWA will be able to provide high-quality and value-added generic medicines to patients, not only in Japan but also abroad, by using a manufacturing factory that specializes in pellet preparation in Spain as well as its network of subsidiary companies in Europe and the United States.
The President of TOWA, Itsuro Yoshida, commented on the acquisition by saying: "I am happy that we can now build a foundation for full-scale overseas expansion by obtaining the sales networks that Pensa owns in Europe and the U.S., its know-how and knowledge on EMA/FDA regulations and commercial practices in each country, and its production facility in Europe. Our goal is to build a solid global structure by respecting and integrating one another's human resources, culture, and technologies. We will work unitedly as a group to provide TOWA's value-added products to patients all over the world."
In 2018, as part of its strategic plan, ESTEVE announced the company's intent to focus its business on proprietary products and areas of specialized medicine. Therefore, the divestiture of Pensa was a natural first step in advancing ESTEVE's journey of transformation. ESTEVE's Chief Executive Officer, Staffan Schüberg, commented: "TOWA is undoubtedly the ideal partner to develop the full potential of the ESTEVE generic division. At the same time, this operation will allow us to focus on our core businesses and speed up ESTEVE's transformation into a specialized and innovative global pharmaceutical company."
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Severity: Warning
Message: count(): Parameter must be an array or an object that implements Countable
Filename: amp/news_details_amp.php
Line Number: 252
Backtrace:
File: /home/smartmarketnews/public_html/application/views/amp/news_details_amp.php
Line: 252
Function: _error_handler
File: /home/smartmarketnews/public_html/application/controllers/Amp_controller.php
Line: 41
Function: view
File: /home/smartmarketnews/public_html/index.php
Line: 315
Function: require_once
Smarter Decisions with Smart News
Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.
media@smartmarketnews.com | sales@smartmarketnews.com
Contact Us