March 2, 2020 / 12:33 PM / a month ago

BRIEF-Takeda Agrees To Divest Select OTC And Non-Core Assets In Latin America To Hypera Pharma For $825 Mln

March 2 (Reuters) - Takeda Pharmaceutical Co Ltd:

* PRESS RELEASE - TAKEDA AGREES TO DIVEST SELECT OTC AND NON-CORE ASSETS IN LATIN AMERICA TO HYPERA PHARMA FOR $825 MILLION USD

* TAKEDA PHARMACEUTICAL CO LTD - TAKEDA AGREES TO DIVEST SELECT OTC AND NON-CORE ASSETS IN LATIN AMERICA TO HYPERA PHARMA FOR $825 MILLION USD

* TAKEDA - TAKEDA INTENDS TO USE PROCEEDS FROM ITS DIVESTITURES TO CONTINUE TO REDUCE ITS DEBT

* TAKEDA - NON-CORE PRODUCTS IN LATEST DEAL GENERATED REVENUES OF ABOUT $215 MILLION USD IN FISCAL YEAR 2018

* TAKEDA - INTENDS TO USE PROCEEDS TO ALSO ACCELERATE DELEVERAGING TOWARD TARGET OF 2X NET DEBT/ADJUSTED EBITDA WITHIN MARCH 2022 - MARCH 2024

* TAKEDA - TAKEDA & HYPERA PHARMA HAVE ENTERED INTO A MANUFACTURING AND SUPPLY AGREEMENT

* TAKEDA - ANTICIPATES ABOUT 300 COMMERCIAL EMPLOYEES SUPPORTING DIVESTED ASSETS WILL BE GIVEN OPPORTUNITY TO TRANSITION TO HYPERA PHARMA AT DEAL CLOSE

* TAKEDA - TAKEDA WILL CONTINUE TO MANUFACTURE PRODUCTS AND SUPPLY THEM TO HYPERA PHARMA Source text for Eikon: Further company coverage:

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