Takeda announces TAP Pharmaceutical Products merger

Takeda has announced the merging of Takeda Pharmaceuticals North America and Takeda Global Research & Development Center with TAP Pharmaceutical Products.

It notes this restructuring is the result of the conclusion of a three-decade long venture between the firm and Abbott which was announced in March and will result in the formation of one of the top 15 pharmaceutical companies in the US.

According to the previously announced terms of the deal, Takeda will acquire the rights to Prevacid from TAP, in addition to its non-Lupron related commercial organisation, its product pipeline and support organisations.

As of the start of May 2008, TAP became a wholly-owned Takeda America Holdings subsidiary.

Yasuchika Hasegawa, president of Takeda, said: “Strengthening Takeda’s presence in the world?s largest pharmaceutical market is one of the keys to our future success.”

He added that this merger marks a key landmark in the integration of two successful firms and said the company anticipates a maximisation of future opportunities for growth.

In April 2008, Takeda announced it had entered into a definitive agreement to buy Millennium Pharmaceuticals for a total sum of $8.8 billion (4.5 billion pounds), with the boards of directors of both companies approving the transaction.