| Takeda to purchase UK-based pharmaceutical firm | Posted on 13/03/2007 in Pharmaceutical Company Restructures Takeda Pharmaceutical has announced that it has signed an agreement to acquire Cambridge-based firm Paradigm Therapeutics. The transaction is expected to be completed in the forthcoming weeks, while the financial details of the agreement have not been publicly disclosed.
As a result of the agreement, Paradigm will be renamed Takeda Cambridge and become a subsidiary of Takeda Europe Holdings, itself a subsidiary of Takeda. Paradigm's Singapore-based subsidiary will be renamed Takeda Singapore.
This agreement follows a 2005 alliance between the firms in the central nervous system therapeutic areas and will result in the integration of Paradigm's researchers and abilities to speed up its research and development efforts.
Yasuchika Hasegawa, president of Takeda, said: "We are very excited with this deal, which will add to Takeda another research base equipped with the state-of-the-art technologies expected to further improve Takeda's research efficiency."
He added that the agreement highlighted the company's plans to form an international research structure and attain enhanced levels of productivity to improve the company's prospects for growth.
In October 2006, Takeda announced the opening of a new office for its wholly-owned Takeda Pharmaceuticals North America subsidiary, with over 800 company employees moving from rented offices to work in the newly built property.Other news stories from 13/03/2007
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