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
 
 

2 responses to “Takeda makes an M&A move in Turkey

  • gambling says:

    666060 128140The next time Someone said a weblog, I hope that it doesnt disappoint me just as much as this. Come on, man, I know it was my choice to read, but When i thought youd have some thing intriguing to say. All I hear is genuinely a handful of whining about something you can fix within the event you werent too busy looking for attention. 975765

  • 777259 730017Hey there. I want to to ask a little somethingis this a wordpress internet log as we are preparing to be transferring more than to WP. Moreover did you make this template all by yourself? A lot of thanks. 769923

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

January 23, 2021

Thermo Fisher Scientific acquires Novasep’s Henogen for $874.5m

Life sciences

Thermo Fisher Scientific has acquired Novasep’s viral vector manufacturing business in Belgium, Henogen, for about €725m ($874.5m) in cash. Henogen offers biotechnology firms, as well as biopharma customers contract manufacturing services for vaccines and therapies.

January 23, 2021

Lilly and Merus partner to develop T-Cell re-directing antibody therapies

Life sciences

Research and development group of Eli Lilly and Company, Loxo Oncology at Lilly, and clinical-stage oncology company Merus have announced a research collaboration and exclusive license agreement to develop T-Cell re-directing bispecific antibodies.

January 23, 2021

Adagene plans $125M IPO to go after cancer niches targeted by BMS and Pfizer

Life sciences

Chinese cancer biotech Adagene has filed to raise up to $125 million in a Nasdaq IPO. The listing will give Adagene the means to run early-phase clinical trials of antibodies against CD137 and CTLA-4.

Send this to a friend