Japanese pharma company Towa Pharmaceutical has wrapped up its previously announced €320 million acquisition of Pensa Investments – the generics division of Spanish pharma company Esteve, as per the latest pharma acquisition news.
The deal also includes Breckenridge Pharmaceutical, a pharmaceutical marketing and distribution firm in the US, which is part of Pensa Investments.
Announced in December 2019, the deal helps Esteve in focusing on its business on proprietary products and areas of specialized medicine.
At the time of announcing the transaction, Staffan Schüberg – ESTEVE CEO said: ”TOWA is undoubtedly the ideal partner to develop the full potential of the ESTEVE generic division. At the same time, this operation will allow us to focus on our core businesses and speed up ESTEVE’s transformation into a specialized and innovative global pharmaceutical company.”
Towa Pharmaceutical, through the acquisition of Pensa Investments, is expected to offer high-quality and value-added generic medicines to patients in Japan and also abroad, by using a manufacturing factory specialized in pellet preparation in Spain apart from its network of subsidiary companies across Europe and the US.
At the time of signing the deal, Itsuro Yoshida – President of Towa Pharmaceutical, said: ”I am happy that we can now build a foundation for full-scale overseas expansion by obtaining the sales networks that Pensa owns in Europe and the U.S., its know-how and knowledge on EMA/FDA regulations and commercial practices in each country, and its production facility in Europe.
“Our goal is to build a solid global structure by respecting and integrating one another’s human resources, culture, and technologies. We will work unitedly as a group to provide TOWA’s value-added products to patients all o