Teva Takeda Pharma shooting for $916m in sales in 2017
Japanese-Israeli joint venture's business size revealed for first time
TOKYO -- Teva Takeda Pharma is likely to post sales of slightly more than 100 billion yen ($916 million) in the year ending December, President Hiroshi Matsumori said in a speech here Friday, revealing the drugmaker's business size for the first time.
The Nagoya-based company was established in 2016 as a joint venture between Takeda Pharmaceutical and Israel's Teva Pharmaceutical Industries. Off-patent drugs are expected to account for 55% of the projected sales, with generics making up the remaining 45%. Teva Takeda plans to procure more off-patent products from Takeda and release new generics.
Hoping to better compete in the generics market, where price wars are raging, Teva Takeda will pursue efficiency and supply stability. The company's lineup of generics totaled some 800 products at the time of its founding, but it plans to discontinue production of about 100 of these.
The extensive generics lineup has complicated production, causing Teva Takeda to grapple with issues concerning stable supply and quality.