The Israel-based generics drug development and production company will now own 100 per cent of the business – named Teva-Kowa – which has become one of the top five companies in its sector in Japan since it was established in 2008.
Now Teva president, Shlomo Yanai, says the firm’s full control over the venture will give it more freedom to expand.
He said: "We are happy to have reached this agreement to bring all our Japanese operations under Teva's full control and ownership.
“Full ownership of all our activities including Taiyo will allow us to better grow our business in Japan."
Of the businesses continued work within the local area he added: "With this stronger platform, Teva will be in a better position to further drive penetration of high quality generic pharmaceuticals in Japan and make better healthcare accessible to the Japanese people."