Takeda completes Nycomed acquisition

OSAKA, Japan — Drug maker Takeda has completed its acquisition of another drug maker.

Takeda said that the deal, valued at $13 billion, is in line with the company's 2011-2013 mid-range plan, and that Nycomed's significant business infrastructure in Europe and high-growth emerging markets will enhance Takeda's regulatory development expertise and commercialization capability.

In line with the acquisition, Takeda announced has named a new CEO for Nycomed. Frank Morich will lead Nycomed and also will continue to serve in his current role as EVP international operations of America/Europe at Takeda Pharmaceuticals International, which is a wholly-owned subsidiary of Takeda America Holdings.

"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," Morich said. "The combined company significantly broadens our coverage of the global pharmaceutical market to more than 70 countries, increasing our global [prescription] sales ranking to 12th and further strengthening our position in the industry."

Interested in this topic? Sign up for our weekly Retail Health Provider e-newsletter.