Towa acquires Esteve’s generics division for 320 million euros

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Operation will strengthen TOWA’s overseas presence with a portfolio of high-quality, value-added generic drugs for patients

TOWA PHARMACEUTICAL CO., LTD, based in Japan. and Spanish pharmaceutical company ESTEVE have announced that TOWA will acquire 100% of Pensa Investments, SL (Pensa), the generic division of Spanish pharmaceutical company ESTEVE. The value of the Pensa purchase transaction is 320 million euros in a single cash advance payment. This acquisition should be finalized by the end of January 2020.

With the acquisition of Pensa, TOWA will be able to provide high-quality, value-added generic medicines to patients not only in Japan but also the rest of the world, through Pensa’s specialized production platform in granules in Spain and its network of subsidiaries in Europe and the USA

Itsuro Yoshida, President of TOWA Pharmaceutical, commented on the acquisition: “I am delighted to see that we can lay the groundwork for large-scale international expansion. We will do this through the commercial networks that Pensa has in Europe and the USA, its experience and knowledge of EMA / FDA regulations and trade practices in each country, as well as its production center in Europe. Our goal is to build a solid global structure that always respects and integrates the human resources, culture and technologies of each party. We will work together as one company, to provide TOWA value added products to patients around the world ”.

In 2018, as part of its strategic plan, ESTEVE announced its intention to focus its activity on its own areas of products and specialized medicine. Therefore, the divestiture of Pensa was a logical first step in its transformation process. The Chief Executive Officer (CEO) of ESTEVE, Staffan Schüberg, explains it this way: “There is no doubt that TOWA is the ideal partner to develop the full potential of the generic division of ESTEVE. At the same time, this operation will allow us to refocus on our core business and accelerate the transformation of ESTEVE into a specialized and innovative global pharmaceutical laboratory ”.

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