Global law firm White & Case LLP has advised Takeda Pharmaceutical Company Limited (Takeda) on an agreement to divest a portfolio of select over-the-counter (OTC) and prescription pharmaceutical products sold in Europe, and two manufacturing sites located in Denmark and Poland, to Orifarm Group (Orifarm) for approximately US$670 million.
Takeda is a global biopharmaceutical leader headquartered in Japan, primarily focused on five business areas: Gastroenterology, Rare Diseases, Plasma-Derived Therapies, Oncology and Neuroscience. Orifarm is a fast-growing Danish pharmaceutical company.
Over the past 12 months White & Case has advised Takeda on the divestments of select OTC and prescription pharmaceutical products in multiple transactions, including:
- the US$825 million divestment to Hypera Pharma in Brazil, Mexico and certain other Latin American countries (announced in March 2020);
- the US$660 million divestment to STADA (a portfolio company of Bain Capital and Cinven) in Russia, Georgia, and a number of countries from within the CIS (announced in November 2019 and closed in March 2020); and
- the US$200 million divestment to Acino (a portfolio company of Nordic Capital and Avista) in a number of EMEA countries (announced in October 2019 and closed in March 2020).
The White & Case team which advised on the transaction was led by partners Michael Immordino and Leonardo Graffi (both Milan and London) and included partners Philip Trillmich, Monica Holden, Dominic Ross, Nicholas Greenacre and Martin Forbes (all London), David Dreier (New York) and Axel Schulz (Brussels), counsels Isaac Tendler (New York) and Malgorzata Pasnik (Warsaw), associates Heidi Blomqvist and Kate Russell (both London), Andrea Pretti and Alessandro Piga (both Milan), Caitlin Powell Gimpel (Chicago), Ajita Shukla (Washington, DC), Tommaso Poli (Brussels), Radomir Szewczuk and Michal Perdjon (Warsaw) and lawyer Mariasole Maschio (Milan).
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