Interview with David Hayday, Takeda

Takeda is a global research and development-driven pharmaceutical company headquartered in Japan. The company is committed to bringing «Better Health and a Brighter Future» to people worldwide. Takeda’s research and development efforts are particularly focused on the therapeutic areas of oncology, rare diseases, neuroscience, gastroenterology and vaccines.

IFBC assisted the Swiss subsidiary of the global pharmaceutical company in successfully divesting part of its home delivery business to a Swiss partner who will provide these services to Takeda in the future.

In this interview, David Hayday, Head of Ethics & Compliance at Takeda’s Swiss distribution company, describes his experience as Takeda’s transaction leader in connection with the successful transaction.

What sets Takeda apart and what is the role of Takeda Switzerland within the group?

I think Takeda stands out for two reasons: on the one hand we have a clear focus on research and development; and on the other hand, our values – integrity, fairness, honesty and perseverance – are always at the heart of what we do and guide our decision-making. Takeda Pharma AG, Takeda’s Swiss distribution company, is responsible for bringing our products to the Swiss market, so that patients here also have access to our medicines. In addition, other Takeda functions are based in Switzerland. For example, we have a production site for haemophilia medicines in Neuchâtel with around 600 employees. Our site in Zurich employs a total of around 1,200 people. In addition to the Swiss sales company, the site also includes the regional headquarters for Europe & Canada and performs various global functions.

What impact has the Covid-19 pandemic had on Takeda Switzerland’s business?

As for many companies, the last two years have been about one thing in particular: digital transformation. Our collaboration with customers, external partners and colleagues has changed a lot and we had to learn a lot. In the beginning of the pandemic, we were also very focused on maintaining our supply chains so that none of our patients were without their treatments. Among other things, the pandemic led to the cancellation of many commercial flights, which are very important for the transport of medicines. Fortunately, working with our European and global affiliates, we were able to avoid any negative impact on our supply chains.

Why did Takeda operate a home delivery service and what was the rationale behind its divestment?

Takeda established the home delivery service a long time ago. For many patients, easy access to their prescribed medication is a great relief. We are very active in the field of rare diseases and these medicines are often not part of the standard inventory of a pharmacy. So the home delivery service, with medicines shipped direct to the patients’ homes, ensures that our patients have reliable and fast access to vital medicines. In 2019, we finally decided to no longer offer this service directly, but instead through a partner – mainly because we are not specialised in this field. With this transaction, we can focus more on our core business, the marketing of our therapies in Switzerland.

What are your personal responsibilities as Head of Ethics & Compliance at Takeda and specifically in this transaction?

The pharmaceutical industry is a highly regulated industry. For example, there is legislation regulating how advertising can be designed or how we can work with physicians. One of my tasks is to implement these regulations at Takeda Switzerland and make sure that we comply with all of them. Another task is to support colleagues in acting in line with our values. I do this by being a partner to help with difficult decisions. It was also important to us to conduct this transaction in accordance with our values. Therefore, we decided that Ethics & Compliance should be in the lead.

In your view, what were the key success factors for realising this transaction?

It was important that we find a partner with the same focus on patients as we have at Takeda. In the home delivery service, everything must revolve around the patient to ensure a flawless service. To ensure that, a structured transaction process was tremendously important. We also did not see the transaction as a divestment, but as the beginning of a long-term partnership. This made the selection of the right partner even more critical.

What added value did IFBC’s support as M&A advisor have for you?

IFBC brought immense experience – something we did not have at Takeda. IFBC immediately understood what was important to us and was able to implement this in a targeted way, both in the sales process and subsequent negotiations. IFBC’s long-term experience also helped us with structuring the transaction so that we could realise the actual value of the business. Moreover, the sales process was handled very professionally by IFBC, which enabled us to carry out all the necessary steps in a structured as well as objective manner and thus also optimise our decisions.

David Hayday is Head of Ethics & Compliance at Takeda’s Swiss distribution company. He has been with Takeda for 16 years and has held various roles in accounting, marketing, controlling and internal audit. Since 2015, he has been working in the compliance department. David Hayday has been a resident of Switzerland for around 15 years and now lives with his family in the canton of Schaffhausen.

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