Takeda announces takeover of Nycomed
20 May 2011 00:00 in Pharmaceutical Company Restructures
Takeda has announced that it will be acquiring Nycomed as part of a move to expand its presence in the European market.
A 9.6 billion euro (8.43 billion pounds) deal has been agreed that will see Nycomed become a wholly-owned Takeda subsidiary within the next 90 to 120 days, with Nycomed's US dermatology business excluded from the agreement.
Nycomed is based in Zurich and possesses both a strong European commercial network and expanding interests in emerging markets, thanks to the aggressive growth strategy it has been following since 2005.
In particular, its Daxas treatment franchise for chronic obstructive pulmonary disease has been highlighted as a potentially major source of revenue growth for Takeda in the coming years.
Yasuchika Hasegawa, president and chief executive officer of Takeda, said: "Nycomed's strength in a geographically wide range of markets and its diverse talent base will be a strong driver to helping us realise our important mission of striving toward better health for patients worldwide."
Earlier this month, the company announced a new investment in Fate Therapeutics, allowing it to gain a firmer foothold in the regenerative medicine sector.
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Story collated for Zenopa by the Adfero News Agency