Julia Ellwanger, a spokesperson for Takeda told us the company decided to establish the joint venture in Japan after discussing what the optimal business structure in the Japanese environment would be, while globally, keeping the partnership between Takeda and PRA.
“The innovative partnership provides a flexible operating model that combines operational expertise, transferred from Takeda to PRA, with PRA’s wide range of global capabilities,” Ellwanger said.
The model is aimed at improving operating efficiencies, driving globalization, and reducing fixed infrastructure costs.
“This flexible approach will facilitate the development of new medicines by focusing resources, teams and activities where needed, an important requirement for an industry-leading, highly agile R&D organization focused on meeting patient need,” Ellwanger added.
As part of the new joint venture, Takeda will establish a new, wholly-owned subsidiary in the first quarter of 2017. The subsidiary will become a part of Takeda Development Center Japan.
After closing of the joint venture – which is expected in the second quarter of 2017 – the new subsidiary will be jointly owned by Takeda and PRA.
Takeda will also transfer all Takeda Pharmaceutical Data Services shares to PRA in the second quarter of 2017.
“As announced on July 29, 2016 Takeda is accelerating the transformation of its R&D organization,” said Ellwanger.
The change is a global effort that is looking to refocus R&D on targeted therapeutic areas and to concentrate R&D organization in Japan and the US.
Ellwanger explained, “This transformation is intended to create and sustain an industry-leading, lean, highly agile, and collaborative organization that delivers innovative, highly-differentiated products to patients.”