Teva expands in Japan – buying generic’s maker Taiyo

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Teva expands in Japan – buying generic’s maker Taiyo

INICIO/Noticias Farmacéuticas | Posted 27/05/2011 0 Post your comment

Teva is on the prowl again—grabbing yet another smaller generics manufacturer—and increasing its presence in the lucrative Japanese market. The Israeli generics giant announced on 16 May 2011 that it had agreed to buy a 57% stake in Japan-based Taiyo Pharmaceutical Industry for US$460 million.

Taiyo has one of the most comprehensive generic product portfolios in the Japanese market with over 550 generic drugs in a variety of therapeutic areas and dosage forms.

This is not the first time Teva has been prospecting in Japan. Teva’s Japanese joint venture, Teva-Kowa Pharma, acquired a 66.7% stake in generics firm Taisho Pharmaceutical Industries back in 2009 [1].

With this latest acquisition Teva expects to reach its target of US$1 billion worth of sales in Japan ahead of its planned 2015 date.

Japan is currently the world’s second largest pharmaceutical market, surpassed only by the US and was valued at US$96 billion in 2010. However, only around 23% of its prescription drug sales by volume are generics. Due to impending patent expiries, the ageing population and government initiatives, which hope to increase the generics volume to 30% by 2012, there are still quite some opportunities for generics manufacturers in Japan [2]. The generics market was valued at US$7.3 billion in 2009 and is expected to be worth US$10 billion by the end of 2013.

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References

1. GaBI Online - Generics and Biosimilars Initiative. Global generics: time for consolidation and expansion. [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International. Available from: www.gabionline.net/Pharma-News/Global-generics-time-for-consolidation-and-expansion

2. GaBI Online - Generics and Biosimilars Initiative. Japan’s generics sector set to grow. [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International. Available from: www.gabionline.net/Generics/General/Japan-s-generics-sector-set-to-grow

Source: Teva, Your-Story