Takeda Offloads Xiidra As Expected, For $3.4bn Upfront To Novartis
As widely anticipated, Takeda has reached an agreement to divest an ex-Shire ophthalmology drug, as it streamlines the combined post-acquisition business to focus on core therapeutic pillars.
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BMS/Celgene and AbbVie/Allergan were the biggest biopharma deals by dollar value in 2019, and the third and seventh largest ever. The year saw 23 deals valued at $1bn or more, including 20 M&A agreements.
Post-Shire Takeda expects losses in its first annual forecast for the combined business, plus "significant headwinds" from expected Velcade erosion. But underlying new and legacy Takeda business is seen remaining strong.