Sector News

Takeda makes an M&A move in Turkey

February 25, 2015
Life sciences
Takeda’s CEO-in-waiting, Christophe Weber, has included emerging markets, along with oncology and gastrointestinal medicines, as one of three areas of focus for the Japanese drugmaker. He recently said he is ready to do some deals to capitalize on those areas, and now he has executed one that straddles two of those favorites.
 
Osaka, Japan-based Takeda announced today that it would pay 300 million Turkish lira ($121 million) to buy a portfolio of 13 drugs from Neutec, one of the top drugmakers in Turkey. It said the baker’s dozen of drugs include products for treating gastrointestinal conditions, as well as respiratory, metabolic and musculoskeletal conditions. The drugmaker said it expects to close the all-cash deal, which would reach the 300 million lira mark based on milestones, this quarter. Istanbul-based Neutec will continue to manufacture the products at its plant in Adapazari.
 
Danilo Cassani, who oversees Takeda’s operations in the Near East, Middle East and Africa, pointed out that the Turkey pharma market is set to grow by 6% a year over the next 5 years, a faster pace than most developed countries. Other drugmakers, like Sanofi ($SNY), have also tagged it as a good bet. Takeda has been plumbing this market for about 5 years and has 130 employees there selling a portfolio of its own drugs, including diabetes treatment Actos. Takeda will add another 100 positions in the country with the closure of this deal.
 
Weber became Takeda’s chief operating officer last year and was selected by CEO Yasuchika Hasegawa to be his replacement when he relinquishes the CEO role in June. The outsider is charged with remaking Takeda into an international player, and toward that end, Weber has been reorganizing the company. Last month he said that with the reorg in action, he was prepared to consider some deals to bolster Takeda’s target areas. He said he didn’t intend for the company to be passive and just “watch the train passing.”
 
By Eric Palmer
 
 

comments closed

Related News

December 3, 2022

Sanofi moves into swanky new Paris HQ designed around hybrid work and sustainability

Life sciences

Monday, the French pharma giant officially moved into its new global home base in Paris, dubbed La Maison Sanofi. The 9,000-square-meter (about 96,875-square-foot) facility comprises two historic buildings and will host around 500 employees, the company explained in a release.

December 3, 2022

As CEO Schultz eyes retirement, Teva taps former Sandoz head Francis as its next leader

Life sciences

On the first day of the new year, former Sandoz chief Richard Francis will take the reins from Schultz, who is hanging up his CEO hat to retire on Dec. 31, Teva said Monday. The news comes a little more than two weeks after Teva publicly said it was looking for Schultz’s replacement.

December 3, 2022

General Electric sets healthcare division spinoff plans

Life sciences

General Electric Co. set the terms for the spinoff of its healthcare division, putting an initial value of roughly $31 billion on the soon-to-be-public company. The Boston conglomerate plans to split into three separate public companies by early 2024. Following the healthcare spinoff, it plans to separate its aerospace business from its power and renewable-energy units.