Takeda to sell URL Pharma to Caraco Pharmaceutical Labs
OSAKA, Japan — Japanese drug maker Takeda Pharmaceutical is selling its generics business to India-based Sun Pharmaceutical Industries, Takeda said Monday.
Takeda said it would sell URL Pharma, through U.S. subsidiary Takeda Pharmaceuticals USA, to Sun subsidiary Caraco Pharmaceutical Labs while retaining control of the gout treatment Colcrys (colchicine). Takeda acquired rights to Colcrys when it bought URL Pharma for $800 million in June 2012; financial terms of the current deal with Caraco were not disclosed.
"The addition of Colcrys has allowed Takeda to become a leader in gout, which is part of our strategy to focus on best-in-class, innovative pharmaceuticals," Takeda Pharmaceuticals USA president Douglas Cole. "URL Pharma has many great assets, and Takeda was committed to finding a buyer for the remaining business that would be dedicated to leveraging all that URL Pharma has to offer."
Colcrys had sales of $155 million between June 1 and Sept. 30, 2012, according to Takeda.