Swiss pharmaceutical firm Acino has signed an agreement with Japan-based Takeda Pharmaceuticals to acquire certain assets of the latter’s primary care portfolio in emerging markets for more than $200m.

As part of the deal, Acino will acquire approximately 30 products from Takeda’s primary care portfolio in selected nations of the Middle East and Africa, and in Ukraine, subject to conditions.

Acino CEO Steffen Saltofte said: “This agreement strengthens our presence in our core emerging markets where we have established ourselves as a leading high-quality pharmaceutical provider.

“It will allow us to expand our offering in both key therapeutic areas and key markets; and ensure that patients in emerging markets will have continued access to a broad range of high-quality affordable medicines as part of the Acino portfolio.”

The transaction will further strengthen Acino’s position in the emerging markets

The agreement will enable Acino to acquire the rights for certain Takeda’s prescription pharmaceutical and OTC portfolio products including pain management, gastroenterology, cardiovascular and respiratory products.

Both Acino and Takeda would sign a multi-year manufacturing and supply agreement, under which Takeda would continue the manufacture of products on behalf of Acino.

In addition, employees associated with the sales, marketing professionals who support the acquired portfolio of assets are expected to join Acino upon closing of the transaction.

With the acquisition, Acino is expected to strengthen its position in the United Arab Emirates, Egypt, Saudi Arabia, Turkey, Ukraine and South Africa, along with several other countries.

Acino said that the deal is subject to satisfaction of customary closing conditions including receipt of applicable antitrust approvals by the relevant authorities and is anticipated to be completed between January and March 2020.

For the acquisition, Rothschild & Co served as a financial advisor, Latham & Watkins served as a legal advisor, PwC as a financial consultant and McKinsey as a commercial advisor for Acino, while BofA Securities served as a financial advisor, White & Case as a legal advisor, and Deloitte as a financial consultant for Takeda.

Takeda chief financial officer Costa Saroukos said: “The divestment of non-core assets sold in NEMEA represents the continued execution of our strategy to optimize our portfolio, invest in the defined core business areas, and accelerate our progress toward reaching our target leverage ratio.”