Friday, December 26, 2014

Takeda to sell non-gout drug URL businesses to Caraco for $65 million

A spokeswoman for the U.S. unit of the Japanese drugmaker said the definitive agreement calls for the sale of the generics Takeda acquired when it bought Philadelphia's URL Pharma (except for Colcrys) in exchange for $65 million.

Takeda to sell non-gout drug URL businesses to Caraco for $65 million

An update to my column in Tuesday's paper about the mix of messages emerging from several of the region's life-sciences firms:

A spokeswoman for Takeda Pharmaceuticals U.S.A. Inc. said the sale price for generic drugs business that it will sell to Caraco Pharmaceutical Laboratories Ltd. is $65 million. Takeda will keep the gout drug Colcrys, which it said generated net sales of $155 million during the three months ended Sept. 30.

Takeda acquired Colcrys and the other generics when it acquired Philadelphia's URL Pharma Inc. in June for $800 million.

When the transaction between Takeda and Caraco closes within 60 days, the operations and the nearly 500 employees that comprise URL's two Philadelphia locations will transfer to Caraco, said Elissa J. Johnsen, of Takeda.

Takeda intends to move production of Colcrys to a non-U.S. facility, she said.

Detroit-based Caraco is a unit of Sun Pharmaceutical Industries Ltd., of Mumbai, India.

Here is a link to the print version of that column.

Mike Armstrong Inquirer Columnist
About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

Mike Armstrong Inquirer Columnist
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