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Clifford Chance advises Esteve on the sale of its generic drugs division to Towa Pharmaceutical

8 January 2020

Clifford Chance advises Esteve on the sale of its generic drugs division to Towa Pharmaceutical

Clifford Chance has advised Esteve on the sale of its generics drugs division to the Japanese pharma company Towa Pharmaceutical for 320 million euros.

The generics division of Esteve, headed by Pensa Investments, includes 8 companies with a presence in the US, Spain, Italy and Portugal, with the manufacturing plant in Martorelles, in Barcelona being its main asset. For Esteve, the deal represents a further step in the implementation of its strategic plan, which focuses on innovative proprietary products and specialised areas of medicine. For Towa, the acquisition represents an excellent opportunity to boost its international expansion, through the acquisition of a platform with a significant presence in Europe and the US.

The team at Clifford Chance was led by Guillermo Guardia, partner of M&A in Barcelona, with support from José María Vilaseca, Juan Cuerva, Cristina González, Manel Santilari and Francisco Ruiz (Barcelona), Begoña Barrantes and Fernando Escribano (Madrid), Thais García, Daryl Fairbairn and Paul Koppel (New York), Timothy Cornell, Santiago Roca and Eva Kurban (Washington) and Natsuko Sugihara and Yuki Hoshinaga (Tokyo).