Japan's Takeda to buy Swiss drugmaker for $13.6 bn

19th May 2011, Comments 0 comments

Japan's Takeda Pharmaceutical said Thursday it reached a 9.6 billion euro ($13.6 billion) deal to buy Swiss drugmaker Nycomed in one of the biggest overseas acquisitions by a Japanese firm.

Nycomed has strong sales in emerging markets and Takeda has agreed to purchase the shares from private equity funds as it looks to boost its presence in these markets. The deal is expected to be completed within 90 to 120 days.

It is the latest in a series of acquisitions for Japanese drug makers as they look to make the most of the strong yen and boost their presence in more lucrative markets overseas, offsetting limited domestic opportunities.

© 2011 AFP

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