Baxter and Takeda Complete Agreement for Vero Cell-Based Influenza Vaccines in Japan

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Baxter International Inc. and Takeda Pharmaceutical Company Limited announced that the parties have completed a Development, License and Technology Transfer Agreement. Under the terms of the agreement, Takeda and Baxter will expand upon their previously announced collaboration to bring Vero cell culture-based influenza vaccines to the Japanese market. Specifically: The agreement includes payments by Takeda to Baxter consisting of upfront cash payments, development cost reimbursements, payments upon the achievement of certain development, technology transfer, regulatory and commercial milestones, and royalties on the sale by Takeda of Vero cell-based influenza vaccines. Neither Baxter nor Takeda expects to revise earnings guidance for their respective 2010 fiscal years in connection with entering into this agreement.

Robert L. Parkinson, Jr., chairman and chief executive officer of Baxter said, The agreement with Takeda is an important milestone in extending the field of cell culture-based vaccine development and production. We believe our joint efforts will help support Japan’s public health efforts, particularly in the high-priority area of pandemic preparedness.

“By collaborating with Baxter, a global leader in cell culture-based vaccine technology for influenza, we plan to establish an infrastructure for the production of pandemic vaccines in Japan,” said Yasuchika Hasegawa, president and CEO of Takeda. “We are committed to fulfilling our social responsibility as a pharmaceutical company by delivering vaccine to the Japanese market as soon as possible.”

Takeda has previously been selected as a recipient of a subsidy of up to 3.6 billion yen that the Japanese government offered publicly under its primary supplementary budget in order to support the investment associated with the development and production of pandemic influenza vaccines.  As a result of this new agreement with Baxter, Takeda will apply for the government’s public offering under the secondary supplementary budget for the establishment of commercial facilities for vaccine production.

About Baxter International Inc.

Baxter International Inc., through its subsidiaries, develops, manufactures and markets products that save and sustain the lives of people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions. As a global, diversified healthcare company, Baxter applies a unique combination of expertise in medical devices, pharmaceuticals and biotechnology to create products that advance patient care worldwide.

About Takeda Pharmaceutical Company Limited

Located in Osaka, Japan, Takeda is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to strive towards better health for patients worldwide through leading innovation in medicine. Additional information about Takeda is available through its corporate website, www.takeda.com

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