Abbott, Takeda end Tap joint venture

LIBERTYVILLE TOWNSHIP -- Abbott Laboratories and Takeda Pharmaceutical Co. Ltd. said Thursday they ended their TAP Pharmaceutical Products Inc. joint venture. Abbott receives rights to the oncology treatment, Lupron, and will receive payments based on TAP's other current and certain future products. Takeda receives the rights to the antacid drug Prevacid, all remaining TAP commercial and support organizations, and the rights to TAP's pipeline.