Abbott, Takeda Conclude TAP Joint Venture
01 Maggio 2008 - 3:00PM
PR Newswire (US)
OSAKA, Japan, and ABBOTT PARK, Ill., May 1 /PRNewswire-FirstCall/
-- Abbott and Takeda Pharmaceutical Company Limited have concluded
their TAP Pharmaceutical Products Inc. (TAP) joint venture. The
closing of the agreement to evenly divide the value of the more
than 30-year-old joint venture marks the conclusion of one of the
most successful joint ventures in the history of American business.
Under terms of the agreement, Abbott receives rights to the
oncology treatment, Lupron, including the commercial organization
supporting that franchise, and will receive payments based on TAP's
other current and certain future products. Takeda receives the
rights to the product Prevacid, all the remaining TAP commercial
and support organizations, and the rights to TAP's pipeline. About
Abbott Abbott is a global, broad-based health care company devoted
to the discovery, development, manufacture and marketing of
pharmaceuticals and medical products, including nutritionals,
devices and diagnostics. The company employs more than 68,000
people and markets its products in more than 130 countries.
Abbott's news releases and other information are available on the
company's Web site at http://www.abbott.com/. Private Securities
Litigation Reform Act of 1995 A Caution Concerning Forward-Looking
Statements Some statements in this news release may be
forward-looking statements for the purposes of the Private
Securities Litigation Reform Act of 1995. Abbott cautions that
these forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those indicated. Economic, competitive, governmental,
technological and other factors that may affect Abbott's operations
are discussed in Item 1A, "Risk Factors," to Abbott's Annual Report
on Securities and Exchange Commission Form 10-K for the year ended
Dec. 31, 2007, and are incorporated by reference. Abbott undertakes
no obligation to release publicly any revisions to forward-looking
statements as a result of subsequent events or developments. About
Takeda Takeda, located in Osaka, Japan, is a research-based global
company with its main focus on pharmaceuticals. As the largest
pharmaceutical company in Japan and one of the global leaders in
the industry, Takeda is committed to striving toward better health
for individuals and progress in medicine by developing superior
pharmaceutical products. Additional information about Takeda is
available through its corporate website, http://www.takeda.com/.
Takeda Forward-Looking Statement This press release contains
forward-looking statements regarding the Company's plans, outlook,
strategies and results for the future. All forward-looking
statements are based on judgments derived from the information
available to the Company at this time. Certain risks and
uncertainties could cause the Company's actual results to differ
materially from any projections presented in this press release.
These risks and uncertainties include, but are not limited to, the
economic circumstances surrounding the Company's business;
competitive pressure; relative laws and regulations; product
development programs; and changes in exchange rates. We assume no
obligation to update or reverse any forward-looking statements or
other information contained in this presentation, whether as a
result of new information, future events, or otherwise. DATASOURCE:
Abbott CONTACT: Media, Melissa Brotz, +1-847-935-3456, or Scott
Stoffel, +1-847-936-9502, or Financial, John Thomas,
+1-847-938-2655, all of Abbott; or Media, Matt Kuhn,
+1-224-554-5609, or Financial, Tomoyuki Ooue, +81-3-3278-2301, ,
both of Takeda Web site: http://www.abbott.com/
http://www.takeda.com/
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