Takeda ‘not in discussions with Abbott’ over buyout

Takeda Pharmaceutical has said that it is not currently negotiating with Abbott Laboratories regarding a potential buyout of the company’s stake in TAP Pharmaceutical Products, the firms’ joint venture in the US.

Reuters reports on recent speculation that Takeda will look to buy out Abbott’s share in the company during the current business year, while Takeda is reported to have set aside $10 billion for a number of investments.

However, president of Takeda Yasuchika Hasegawa told the news agency: “Right now there is nothing happening.”

Mr Hasegawa added that an acquisition of Abbott’s half of TAP Pharmaceutical Products would be a good purchase for the firm, but not an essential one.

It has been suggested that the purchase of TAP Pharmaceutical Products could cost Takeda in the region of 350-500 billion yen (1.5-2.1 billion pounds).

Last month, Takeda announced the acquisition of UK-based Paradigm Therapeutics, with the firm becoming a wholly-owned subsidiary of Takeda Europe Holdings and being rebranded as Takeda Cambridge.

Paradigm’s Singapore subsidiary was renamed Takeda Singapore following the acquisition.

The financial details of the transaction, which replaced and added to the companies’ previous therapeutic alliance in the central nervous system field, were not disclosed.