May 8, 2019 / 10:39 PM / 13 days ago

BRIEF-Takeda says To Sell Xiidra To Novartis For Up To $5.3 Bln

May 8 (Reuters) - Takeda Pharmaceutical Co Ltd:

* TAKEDA SIMPLIFIES PORTFOLIO AND ACCELERATES DELEVERAGING THROUGH TWO DIVESTITURES

* TAKEDA PHARMACEUTICAL CO LTD - AGREES TO SELL XIIDRA TO NOVARTIS FOR UP TO $5.3 BILLION

* TAKEDA PHARMACEUTICAL CO LTD - COMPANY TO ALSO DIVEST TACHOSIL TO ETHICON FOR APPROXIMATELY $400 MILLION

* TAKEDA PHARMACEUTICAL CO LTD - DOES NOT EXPECT THESE DIVESTITURES TO HAVE A MATERIAL IMPACT ON ITS FY2019 CONSOLIDATED EARNINGS FORECAST

* TAKEDA PHARMACEUTICAL CO LTD - INTENDS TO USE PROCEEDS FROM DIVESTITURES TO REDUCE ITS DEBT

* TAKEDA PHARMACEUTICAL - FY2019 FORECAST WILL BE UPDATED AT LATER DATE TO REFLECT DIVESTITURES ONCE RELIABLE ESTIMATE OF IMPACT CAN BE MADE

* TAKEDA PHARMACEUTICAL CO LTD - RECORDED FULL YEAR ADJUSTED NET SALES FOR TACHOSIL OF APPROXIMATELY $155 MILLION IN FISCAL YEAR ENDED MARCH 31, 2018.

* TAKEDA - ENTERED LONG-TERM MANUFACTURING SERVICES AGREEMENT, UNDER WHICH CO TO CONTINUE TO MANUFACTURE TACHOSIL PRODUCTS AND SUPPLY THEM TO ETHICON

* TAKEDA PHARMACEUTICAL CO LTD - TAKEDA WILL MAINTAIN OWNERSHIP OF MANUFACTURING FACILITY IN LINZ, AUSTRIA Source text for Eikon: Further company coverage:

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