OSAKA, Japan, May 9 (Bernama-BUSINESS WIRE) — Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced that it has entered into agreements to divest its Xiidra® (lifitegrast ophthalmic solution) 5% product (“Xiidra®”) to Novartis and its TachoSil®Fibrin Sealant Patch (“TachoSil®”) to Ethicon as part of its strategy to focus on business areas core to its long-term growthand facilitate rapid deleveraging following its acquisition of Shire.
“These initial divestitures represent important steps in advancing the growth strategy Takeda outlined following our transformational acquisition of Shire earlier this year,” said Christophe Weber, President and Chief Executive Officer of Takeda. “We are working to strategically simplify and optimize our portfolio, while also rapidly deleveraging and continuing to invest in our growth drivers as a global, values-based, R&D-driven biopharmaceutical leader.”