Towa Completes Deal For Pensa
Transaction Worth €329m Was Agreed In Late 2019
Japan’s Towa has completed its €329m deal for the Pensa Investments generics business of Spain’s Esteve.
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Japan’s Towa Pharmaceutical endured a mixed financial first quarter, seeing the April round of Japanese National Health Insurance pricing measures bite into domestic sales while its new overseas business thrived as COVID-19 pushed up demand.
Towa says it expects consolidating the Pensa business it acquired earlier this year to boost its sales by more than a third in its current financial year. Meanwhile, the Japanese firm has reported sales ahead by 5% in the year ended March 2020 on the back of new launches, as well as growth in profits despite local price cuts.
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