Teva, Takeda to Form Independent Company in Japan

Teva Pharmaceutical Industries and Takeda Pharmaceuticals are forming a joint venture in Japan focused on generics, although details on the arrangement are sparse.

According to a joint release from the Israeli generics giant and Takeda, the two will collaborate to form an independent company in Japan. Under the arrangement, Teva will offer its generic products to the joint venture — which is slated to start operations in the second half of 2016 — while Takeda will provide off-patent products, a Teva spokeswoman said.

Each company will have a financial stake in the new venture, with Teva holding 51 percent of the interest and Takeda the remaining 49 percent.