Abbott and Takeda Pharmaceutical Company Limited have concluded their TAP Pharmaceutical Products Inc. (TAP) joint venture to evenly divide the value of the more than 30-year-old joint venture.
Under terms of the agreement, Abbott receives rights to the oncology treatment, Lupron, including the commercial organisation 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 organisations, and the rights to TAP's pipeline.