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TAP Pharmaceuticals was formed in 1977 as a joint venture between the two global pharmaceutical companies, Abbott Laboratories and Takeda Pharmaceutical Co. and was dissolved in 2008; its two most lucrative products were proton-pump inhibitor lansoprazole (Prevacid) and the prostate cancer drug, leuprorelin (Lupron). [1]
The company was created as a joint venture by GSK and Pfizer in November 2009, with both companies transferring their HIV assets to the new company. [1] In 2012, Shionogi joined the company. As of December 2023, 76.5% of the company is owned by GSK, 13.5% by Pfizer and 10% by Shionogi. [ 2 ]
The company's first international move took it to Russia in 1992. There, Dr. Reddy's formed a joint venture with the country's biggest pharmaceuticals producer, Biomed.They pulled out in 1995 amid accusations of scandal, involving "a significant material loss due to the activities of Moscow's branch of Reddy's Labs with the help of Biomed's chief executive". [8]
Intrexon used a late Friday 8-K filing to announce a joint venture with India's Sun Pharma to battle common eye diseases such as dry age-related macular degeneration, glaucoma, and retinitis ...
The two companies discussed a potential merger, uniting two of the largest pharmaceutical companies. This was eventually thwarted by Pfizer, in order to maintain control of the blockbuster drug - Lipitor. [20] [21] 8 2016 Bayer AG: Monsanto Company Inc. 65 83
In 2020, Vifor Pharma sells 100% of OM Pharma to Optimus Holding Limited for CHF 435 million [8] In 2020, Vifor Pharma also forms a Joint Venture agreement with Fresenius Kabi for the market in the People's Republic of China in the area of intravenous iron deficiency treatments [9]
Torrent exited the joint venture by selling its stake to Sanofi in 2002. [7] In 2005, Torrent Pharmaceuticals acquired Heumann Pharma Generics GmbH, a Pfizer company based in Germany. [8] In 2013, Torrent Pharma acquired the India formulations business of Elder Pharmaceuticals for ₹ 2,004 crore (US$341.99 million). [9]
TAP was fined $875 million, then reported as the largest pharmaceutical settlement in history. [48] [49] In March 2008, Takeda and Abbott Laboratories announced plans to conclude their 30-year-old joint venture, TAP Pharmaceuticals. [50] The split resulted in Abbott acquiring U.S. rights to Lupron and the drug's support staff. [51]