Takeda Completes Acquisition and Names New CEO of Nycomed
OSAKA, Japan, Sept. 30/ PRNewswire-AsiaNet/ –
Takeda Pharmaceutical Company Limited (“Takeda”, TSE: 4502) announced it has completed its acquisition of Nycomed A/S (“Nycomed”) for 9.6 billion Euro on a cash-free, debt-free basis and made Nycomed a wholly owned subsidiary of Takeda effective the same day. Dr. Frank Morich has been named CEO of Nycomed in addition to his current role as Executive Vice President (EVP), International Operations (Americas/Europe), Takeda Pharmaceuticals International, Inc., a wholly owned subsidiary of Takeda America Holdings, Inc.
The transaction fits in with Takeda’s sustainable growth strategy outlined in its 2011-2013 Mid-Range Plan (MRP). Takeda has a strong presence in the Japanese and U.S. markets, while Nycomed has a significant business infrastructure in Europe and high-growth emerging markets that will enhance Takeda’s regulatory development expertise and commercialization capability. In addition, the acquisition will bring Takeda an immediate and stable increase in cash flow generated from annual revenue of more than 2.8 billion Euro from the acquired business.
“The combination of both organizations will strengthen Takeda’s performance during the 2011-2013 MRP period, and enable us to sustain medium and long-term growth targets starting in fiscal 2015 and extending into the next decade,” said Yasuchika Hasegawa, President & CEO of Takeda. “Partnering the two organizations will have complementary effects and further increase our potential to become a truly global pharmaceutical company.”
“I look forward to bringing Takeda and Nycomed together to ensure we can achieve enhanced revenue, growth and diversification, while maintaining the strong momentum of both companies,” said Frank Morich. “The combined company significantly broadens our coverage of the global pharmaceutical market to more than 70 countries, increasing our global Rx sales ranking to 12th and further strengthening our position in the industry.”
The combined company will have an active commercial presence in the therapeutic areas of metabolic diseases, gastroenterology, oncology, cardiovascular health, CNS diseases, inflammatory and immune disorders, respiratory diseases and pain management, as well as having a well-balanced presence in pharmaceutical markets of Japan, North America, Europe and Asia/Emerging Markets.
The integration enhances the 1,260 billion yen of projected FY 2013 sales in 2011-13 MRP by more than 30 percent and improves the 280 billion yen of projected FY 2013 operating income (excluding special factors derived from business acquisition) in 2011-13 MRP by more than 40 percent. Takeda will now start preparation of the consolidated financial outlook for its fiscal 2011 ending March 31, 2012, and is planning to announce it upon announcement of its financial results of fiscal 2011 2Q scheduled in November.
Located in Osaka, Japan, Takeda is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to strive towards better health for patients worldwide through leading innovation in medicine. Additional information about Takeda is available through its corporate website, http://www.takeda.com.
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SOURCE: Takeda Pharmaceutical Company Limited