Takeda acquires Turkish firm Neutec
pharmafile | February 24, 2015 | News story | Sales and Marketing | Takeda, Turkey, gastroenterology, neutec, respiratory, turkish
Takeda has signed an agreement to acquire one of Turkey’s leading pharma firms Neutec in a $120 million deal.
The agreement will see the Japan-based company obtain a select portfolio of products including offerings within the gastroenterology and respiratory therapy areas – which annually contribute to one million deaths and costs of around €380 billion in Europe it says.
“This portfolio enables Takeda to expand its offering of quality medications, applying its global capabilities and local expertise to meet the diverse needs of patients and healthcare providers in Turkey,” says Renata Campos, who is Takeda Turkey’s managing director.
Takeda’s area head for the Middle East and Africa adds that Turkey “is forecasted to grow at around 6% annually over the next five years”. This agreement is said to help create an estimated 100 new jobs in the country and see Neutec continue to manufacture products locally.
“We are proud of this transaction with a best in-class global company such as Takeda,” says Mahmut Bilgiç, who is the chief executive of Neutec. “This is one of our largest deals in Turkey with a multinational pharmaceutical company and will allow us to reinforce our market position in core products and help enhance our R&D activities to reach and serve the needs of more patients.”
Earlier this month the pharma firm had a number of setbacks that include the scrapping of an advanced trial of its investigational drug, after it failed to show any survival benefit in people with lung cancer.
During the same month Takeda also announced that it was abandoning the development of a vaccine in Japan.
Takeda says it will now focus on vaccine programmes that address significant unmet needs in its home country, plus endeavour to invest in Turkey where the company has been operating for the last five years.
Tom Robinson
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