Takeda provides update on 2012-14 growth plans

Takeda has provided an update on its progress towards its mid-range strategic goals, under which the company is transforming its operations to promote growth.

The pharmaceutical manufacturer is aiming to achieve net sales of 1.55 trillion yen (12.07 billion pounds) this year, increasing to 1.7 trillion yen by 2014, while becoming a truly global operation at the same time.

As part of this strategy, Takeda completed the acquisition of Switzerland's Nycomed last year and has agreed a new deal to buy the US-based URL Pharma earlier in fiscal 2012.

In addition, the firm is strengthening its position in emerging markets and obtaining approval for a number of promising new therapies, while also making further research and development investments.

"Takeda will continue to promote its business and realise its mission of striving towards better health for patients worldwide through leading innovation in medicine," said the company in a statement.

Over the last month, the firm has published positive trial data for its Crohn's disease therapy vedolizumab, while receiving a recommendation for EU approval of the kidney disease therapy Rienso.