J & amp;J & #039;s Ethicon Spends $400M for Takeda ’s Fibrin Sealant Patch

Johnson & Johnson’s Ethicon is set to acquire Takeda Pharmaceutical’s Fibrin Sealant Patch for $400 million. The deal is set to close in the second half of 2019. The TachoSil is a surgical patch designed to achieve safe fast and reliable bleeding control. Upon close, about 80 employees will transition to Ethicon. Takeda said net sales for TachoSil were about $155 million for the 2018 fiscal year. Terms for the deal call for Ethicon to acquire the assets and licenses that support the manufacturing, licensing and commercialization of TachoSil, while Takeda maintains ownership of the manufacturing facility in Linz, Austria. Takeda has entered into a long-term manufacturing services agreement, under which it will continue to manufacture TachoSil products and supply them to Ethicon. Takeda is also divesting Xiidra (lifitegrast ophthalmic solution) to Novartis for $3.4 billion upfront in cash and up to an additional $1.9 billion in potential milestone payments. The reason for both deals is to help Takeda reduce debt it incurred from borrowing $30 billion to finance its acquisition of Dublin-based Shire. Join us for New England’s Premier Medtech Event Held at the Boston Convention Exhibition Center in Boston, MA, May 15-16.  “These initial divestitures represent important steps in advancing the growth strategy Takeda outlined following our transformational acquisition of Shire earlier this year,&...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news