Teva Entered Into An Agreement With JKI Co. Established By The Fund Managed And Operated By Private Equity Firm J-Will Partners Co., Through Which JKI Will Acquire Teva-Takeda; The Agreement Is Aligned With Teva's Pivot To Growth Strategy To Focus Its Business; No Financial Terms Disclosed

• Teva entered into an agreement with JKI Co., Ltd. ("JKI") established by the fund managed and operated by private equity firm J-Will Partners Co., Ltd. ("J-Will"), through which JKI will acquire Teva-Takeda
• The agreement is aligned with Teva's Pivot to Growth strategy to focus its business
• The expected divestment of Teva-Takeda, Teva's business venture in Japan, which includes generics products and legacy products, will allow Teva to focus on bringing its innovative medicines to the Japanese market
  

TEL AVIV, Israel, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Today, Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) announced that it has entered into an agreement with JKI, established by the fund managed and operated by J-Will, whereby all shares of Teva Takeda Pharma Limited and its wholly owned subsidiary Teva Takeda Yakuhin Ltd. will be transferred to JKI.

Teva recently communicated that it was open to exploring new strategic approaches in Japan, including a possible divestment of its Teva-Takeda business venture, in alignment with its Pivot to Growth strategy. The divestment will allow Teva to focus on its innovative medicines business in Japan.

Teva expects the divestiture to be completed by 1 April, 2025, subject to standard closing conditions, including obtaining required regulatory approvals. All the employees of the business venture in Japan will remain employed, subject to the terms of the agreement.