As per reports, Kadoma, Osaka Japan-based company Towa Pharmaceutical Co. Ltd. that specializes in generic drugs announced it is acquiring 100% ownership of Pensa Investments, S.L. (Pensa), the generics division of the Spanish pharmaceutical company ESTEVE. The deal to be an all-cash deal with an upfront payment of 320 million euros. Pensa’s acquisition will allow Towa to provide high-quality and value-added generic medicines to patients, not only in Japan but also abroad. The acquisition is expected to be completed by the end of January 2020.
The President of TOWA, Itsuro Yoshida, stated on the acquisition by saying: “I am happy that we can now build a foundation for full-scale overseas expansion by obtaining the sales networks that Pensa owns in Europe and the U.S., its know-how and knowledge on EMA/FDA regulations and commercial practices in each country, and its production facility in Europe. Our goal is to build a solid global structure by respecting and integrating one another’s human resources, culture, and technologies. We will work unitedly as a group to provide TOWA’s value-added products to patients all over the world.”
ESTEVE’s Chief Executive Officer, Staffan Schüberg, commented: “TOWA is undoubtedly the ideal partner to develop the full potential of the ESTEVE generic division. At the same time, this operation will allow us to focus on our core businesses and speed up ESTEVE’s transformation into a specialized and innovative global pharmaceutical company.”
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive! Sign Up to receive FREE email updates here!