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Takeda transferring some drug development to joint venture

Diabetes, obesity, high blood pressure among fields new unit will cover

Takeda Pharmaceutical's Shonan Research Center in Japan.

TOKYO -- Takeda Pharmaceutical has formed a 10 billion yen ($87.2 million) drug development company with two partners, allowing the Japanese company to concentrate resources on three core areas.

The public-private Innovation Network Corp. of Japan holds the largest share of the new company, called Scohia Pharma, at 70.5%. Takeda owns a 19.5% stake, while Medipal Holdings has the remaining 10%, according to Tuesday's announcement.

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