Takeda Pharmaceutical Co has unveiled its plans for futher expansion overseas by setting up four new subsidiaries.
The operations will have their base in Mexico, Turkey, Sweden and Belgium and the latter two subsidiaries will include Norway, Denmark and Luxembourg. Alan Mackenzie of Takeda Pharmaceuticals International said that “executing our territory expansion strategy is animportant step toward further globalising our operations”.
The Japanese drugmaker noted that the Mexican pharmaceutical market is the 12th largest in the world and accounts for around 25% of drug turnover throughout Latin America. The population in Mexico is increasing, and access to healthcare continues to grow at a faster raste than the USA and Europe, “making it a key region for Takeda’s expansion”.
The Nordics and Benelux are also “strategically important regions”, said Takeda noting that the five countries covered by two of the new subsidiaries make up 5% of the European pharmaceutical market. Turkey is the sixth-largest market in Europe and is predicted to have fastest growth rate in the continent over the next five years.
The establishment of these subsidiaries comes as a result of Takeda’s buy-back of the rights in a number of territotries to its blockbuster diabetes drug Actos (pioglitazone) from Eli Lilly over the past year.
The Tokyo-headquartered firm has also set up commercial operations in Spain, Portugal, Ireland and Canada in the past few months.
