Press Release
Abbott, Takeda Conclude TAP Joint Venture
May 1, 2008
OSAKA, Japan, and ABBOTT PARK, Illinois (NYSE: ABT)
— 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 (NYSE: ABT)
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.
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, 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.
Abbott Contacts:
Media:
Melissa Brotz
Scott Stoffel |
(847) 935-3456
(847) 936-9502 |
Financial:
John Thomas |
(847) 938-2655 |
Takeda Contacts:
Media:
Matt Kuhn |
(224) 554-5609 |
Financial:
Tomoyuki Ooue |
+81-3-3278-2301
Ooue_Tomoyuki@takeda.co.jp |
