Takeda completes Nycomed acquisition

Takeda has announced the completion of its takeover of Nycomed, a deal valued at 9.6 billion euros (8.29 billion pounds).

The deal sees Nycomed become a wholly owned subsidiary of Takeda, supporting the company's sustainable growth strategy by greatly strengthening its commercial presence in Europe.

It will also provide Takeda with an immediate and stable increase in cash flow generated from annual revenue of 2.8 billion euros.

Following the conclusion of the deal, Dr Frank Morich has been named as the new chief executive officer of Nycomed, in addition to his current role as executive vice-president for international operations at Takeda Pharmaceuticals International.

Mr Morich said: "I look forward to bringing Takeda and Nycomed together to ensure we can achieve enhanced revenue, growth and diversification, while maintaining the strong momentum of both companies."

Last week, Takeda was granted a recommendation from Europe's Committee for Medicinal Products for Human Use for approval of Edarbi, a new therapy for high blood pressure.