Towa Pharmaceutical’s EUR320 Million Acquisition Of Esteve’s Generic Drugs Division


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, being the manufacturing plant in Martorelles (Barcelona) its main asset. For Esteve, the deal represents a step further 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, acquiring a platform with a significant presence in Europe and the US.

Esteve is a Spanish international pharmaceutical company headquartered in Barcelona.

TOWA produces generic drugs mainly for elderly. The Company also wholesales medicine and medical products of other pharmaceuticals.

The team at Clifford Chance was led by Guillermo Guardia (Picture), 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).

Involved fees earner: Timothy Cornell – Clifford Chance; Juan Cuerva – Clifford Chance; Fernando Escribano – Clifford Chance; Daryl Fairbairn – Clifford Chance; Thais Garcia – Clifford Chance; Cristina González – Clifford Chance; Guillermo Guardia – Clifford Chance; Yuki Hoshinaga – Clifford Chance; Paul Koppel – Clifford Chance; Eva Kurban – Clifford Chance; María Begoña Barrantes – Clifford Chance; Santiago Roca Arribas – Clifford Chance; Francisco Roberto Ruiz Sanchez – Clifford Chance; Manel Santilari – Clifford Chance; Natsuko Sugihara – Clifford Chance; José María Vilaseca – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Esteve;