Takeda denies Nycomed takeover talks

Japan's Takeda Pharmaceutical Company has denied reports that it is in talks to buy privately-held Nycomed, in a deal worth more than 1tn Japanese yen (£7bn).

In a statement the company said: "Takeda has not agreed to any such agreement as suggested by certain newspaper publications… Takeda is constantly seeking and evaluating opportunities to increase shareholder value and enhance our business through strategic investment, however, there is nothing that needs to be announced at this point."

Initial media reports alleged that the deal was in its final stages, while another said that Takeda is talking to banks about financing the deal.

Earlier this week Takeda announced the start of its 2011-2013 plan to transform the company. It said it will invest strongly on core therapeutic areas and will shift from a product mix centred on mature, large-scale products, to a more diverse product line up centred on new treatments.

The company will also look to accelerate its globalisation activities by making strong investments in newly penetrated countries and emerging markets.