Teva Announces Agreement to Divest Teva-Takeda, its Business Venture in Japan

Core Insights - Teva Pharmaceutical Industries Ltd. has entered into an agreement with JKI Co., Ltd. for the divestment of its Teva-Takeda business venture in Japan, aligning with its Pivot to Growth strategy [1][2] - The divestment will enable Teva to concentrate on its innovative medicines in the Japanese market, enhancing its focus on bringing new products to this region [1][2] - The transaction is expected to be completed by April 1, 2025, pending standard closing conditions and regulatory approvals [3] Company Strategy - The divestment is part of Teva's broader Pivot to Growth strategy, which aims to streamline operations and focus on high-quality, innovative medicines [4] - Mark Sabag, Executive Vice President, emphasized the importance of this agreement in ensuring the delivery of affordable medicines to patients in Japan [4] Operational Details - All employees of the Teva-Takeda business venture in Japan will remain employed under the terms of the agreement, ensuring continuity in operations [3] - Teva has a global workforce of approximately 37,000 employees and operates in 58 markets, highlighting its extensive reach and commitment to health improvement [4]