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Takeda buys Nycomed and names CEO

Takeda has completed the purchase of Switzerland-based pharmaceutical firm Nycomed and named Dr Frank Morich as Nycomed's CEO

Takeda has completed the purchase of Switzerland-based pharmaceutical firm Nycomed for €9.6bn, making Nycomed a wholly owned subsidiary of Takeda.

Takeda also named current executive vice president of international operations (Americas/Europe) at Takeda, Dr Frank Morich, as CEO of the newly acquired company.

The deal fits Japan-based Takeda's plans for international growth, with Nycomed holding a strong presence in Europe as well as making recent investments in emerging markets such as Russia and China.

Yasuchika Hasegawa, president and CEO of Takeda, said: "Partnering the two organisations will have complementary effects and further increase our potential to become a truly global pharmaceutical company."

Commenting on his appointment, Morich was positive about the acquisition that will see Takeda's coverage of the global pharmaceutical market increase to more than 70 countries.

He 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."

Takeda also named other executive changes at the company, including renaming the company's international operations (Asia) division to international operations (North Asia).

Haruhiko Hirate, former corporate officer, senior vice president, international operations (Asia) will take up the same position in the newly named North Asia division, while Shinji Honda, former chief integration officer at Takeda will become chief integration officer at Nycomed.

Trevor Smith, CEO at Takeda, will remain in his position as well as taking over the role of head of Europe and Canada commercial operations at Nycomed.

3rd October 2011

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