Japan's Takeda Pharma in $12 billion to buy Swiss rival Nycomed: report
12 May 2011
Japan's Takeda Pharmaceutical Co is reported to be in talks to acquire privately-held Swiss pharmaceutical firm Nycomed, in a deal worth more than $12 billion, as the Japanese company tries to use its cash pile to boost its global presence.
Reports quoting sources close to the developments said Takeda, hit by the 11 March earthquake like other Japanese companies, approached Nycomed about a month ago with the offer.
Faced with disruptions in a saturated domestic market, global expansion has now become a necessity for survival of Japanese companies.
With Japanese pharma firms, including Daiichi Sankyo and Astellas Pharma, facing loss of patent protection on key medicines, they are actively pursuing acquisitions to boost growth, the report said.
Meanwhile, a Reuters report citing an unnamed person familiar with the deal said Takeda's deal with Nycomed was almost final, although it would take some more time to conclude.
Takeda, with around ¥874 billion yen in cash and marketable securities at hand, had earlier said it would be willing to take on debt for future deals.
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