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Takeda to take over Tianjin Takeda

Takeda Pharmaceutical has announced it is to obtain full ownership of Tianjin Takeda, expanding the company's role in China

Japanese company, Takeda Pharmaceutical, has announced it is to obtain full ownership of Tianjin Takeda - a China-based joint venture between Takeda and Tianjin Lisheng Pharmaceutical established in 1994.

The deal will see Takeda, which currently holds 75 per cent of Tianjin Takeda, acquire the 25 per cent share of the company held by Tianjin Lisheng.

Financial details of the deal were not disclosed.

Speaking on the deal, Haruhiko Hirate, corporate officer, senior vice president, international operations (Asia) of Takeda, said: "It is an important milestone event for Takeda to obtain the full ownership of Tianjin Takeda as we are aiming to rapidly expand our business in China that is already fifth largest pharmaceutical market in the world with one of the fastest growing trend."

He continued: "We will establish and implement further proactive and flexible sales and marketing strategies for existing products, while proceeding to earliest possible registration and launch of new products ... so that we can enhance Takeda's presence in China as early as possible."

The board of directors at Tianjin Lisheng announced its decision to sell its share of the joint venture in August 2010.

As a state-owned company, Tianjin Lisheng's holdings were put up for public bidding, with applications taken from September 9, 2010 to October 13, 2010.

By the end of the application period, Takeda was sole bidder for the equity held by Tianjin Lisheng, allowing the Takeda's complete takeover of the venture.

19th October 2010

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