Takeda Pharmaceutical International has strengthened its Latin American foothold via the birth of a wholly-owned subsidiary in Ecuador.
The Zurich, Switzerland-based firm, itself the daughter of Japanese drugmaker Takeda Pharmaceutical Co, has launched Takeda Ecuador with headquarters in Quito, from where it will run sales and marketing operations in the country.
Explaining the rational behind increasing its presence in the region, the group highlighted IMS data showing that pharmaceutical sales in Latin America hit $74.5 billion in 2012 and are expected to grow at a compound annual rate of 8% until 2016.
Takeda said it plans to "outgrow the market over the same period", and that, in line with its emerging markets strategy, Takeda Ecuador is putting together a product portfolio based on the medical needs of the population, centring on gastroenterology, cardiology, metabolism, oncology and respiratory diseases.
“This investment further demonstrates our commitment to Latin America and its growth potential," said Norbert Oppitz, Senior Vice President, Latin America, at Takeda. "We have ambitious plans in this region and we continue to evaluate opportunities to expand our footprint," he added.
Carlos Haro has been appointed country manager for Ecuador, joining the company from Sanofi.