As part of its strategy of expanding in growth markets, Takeda is establishing a subsidiary in Israel.
The unit will be headquartered in the Tel Aviv area with an initial focus on oncology. Takeda products currently sold in Israel by local partners include the diabetes drug Actos (pioglitazone), the cardiovascular treatment Atacand (candesartan), Contoloc (pantoprazole) for stomach acid and Mepact (mifamurtide) for osteosarcoma.
Takeda Israel also notes that it seek partners in Israel "with complementary portfolios, through which to launch additional proven medicines". The Japan-headquartered group noted that Israel is "a highly-developed pharma market with a universal healthcare system that values innovative medicines".
Takeda went on to say that Israel's National Health Insurance "constantly expands its list of reimbursable products, having dedicated more than a third of its additional funds over the last ten years to cancer treatment". According to Business Monitor International, pharmaceutical sales in Israel reached $1.5 billion in 2012 and are expected to grow at a compound annual rate of 6% between 2013 and 2017; Takeda added that it plans to outgrow the market over the same period.
Israel is the sixth subsidiary Takeda has opened this year in growth markets, together with Algeria, Ecuador, Peru, Singapore and Vietnam.