Takeda Pharmaceutical (Japan)

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Takeda is Japan's biggest pharmaceutical company, and has spent the past few years establishing a stronger local presence in key international markets such as the US and Europe, where previously it had relied on partners to handle its products. For several years its main presence in the US was through TAP Products, a joint venture with Abbott Laboratories which distributed Takeda's Prevacid and other products in North America. This partnership was dissolved in 2008, and Takeda established its own direct presence in the region, in part through the acquisition of local biotech Millennium Pharma. Another key development was the acquisition in 2011 of Swedish drug developer Nycomed, which had a strong presence of its own in Europe and emerging markets. Takeda's top-selling product in year ending 2018 was Entyvio, to treat colitis and Crohn's disease. Sales jumped over 40% to approx $1.8bn, overtaking oncology drug Velcade, whose US patent expired that year, with sales of $1.2bn. (Johnson & Johnson has international rights). Velcade is supported by newly launched follow-up Ninlaro. Other key drugs include prostate and breast cancer treatment Leuprorelin, and heartburn products Pantoprazole and Lansoprazole (or Prevacid). In early 2017, the group acquired US biotech Ariad, makers of leukaemia drug Iclusig, for $5.2bn. In 2018, it launched a mammoth $58bn bid to buy Irish rival Shire. Takeda also has a sizeable OTC healthcare business in its domestic market, with brands such as Alinamin vitamin supplements and cold remedy Benza. It also has local rights to several Johnson & Johnson brands including Nicorette. CEO Yasuchika Hasegawa retired in 2014 to be succeeded by Christophe Weber, the first non-Japanese to lead the group. Revenues in the year to March 2018 were around $16.0bn, but will top $30bn following completion of the Shire deal. Takeda traces its roots all the way back to 1781, when founder Chobei Takeda began selling traditional herbal remedies. Adbrands does not currently profile this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.

Capsule checked 20th September 2018

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Recent stories from Adbrands Weekly Update:

Adbrands Daily Update 5th Dec 2018: Takeda secured shareholder approval for its mammoth takeover of rival developer Shire, despite opposition from a small group of investors who fear the fallout from the massive debt that will be incurred. It is the biggest international acquisition by far by any Japanese company. The deal value - $58bn at current prices - is almost twice the previous record, Softbank's $32bn purchase of ARM Holdings in 2016.

Adbrands Weekly Update 20th Sep 2018: A plan by drug company Takeda to establish a fully global footprint through the acquisition of Ireland's Shire has come under threat from members of the Japanese group's founding family. The acquisition has been masterminded by Takeda's first-ever non-Japanese CEO Christophe Weber, but its $62bn price tag would represent the biggest-ever external acquisition by any Japanese company. It would also require Takeda to assume more than $30bn in debt. Kazu Takeda and a small group of other shareholders believe such a plan would be "disastrous" and would oblige the company to change its corporate philosophy. “We understand that scaling up is necessary," he said, "but Takeda management has to think about the traditional corporate culture and the health of the company. Hasty decisions on big deals should be avoided. It will lead to disaster if there are large-scale mergers and acquisitions without careful consideration." The takeover is still subject to a vote by shareholders.

Adbrands Weekly Update 26th Apr 2018: Pharma group Takeda is close to pulling off Japan's biggest-ever takeover of a Western company, having finally secured a hesitant acceptance by Ireland-based rival Shire. Takeda has raised its bid four times in the past week to counter threats of a rival offer from Allergan (which disappeared almost as soon as it was rumoured) as well the company's own shrinking share price. Shire agreed on Wednesday to recommend the latest bid, worth around $64bn in cash and stock, to its shareholders. If the deal goes through, the merged group would become the world's 8th largest drug company by revenues, generating around half its sales in the US. The deal still has to be approved by both groups' boards and is subject to due diligence.

Adbrands Weekly Update 18th Apr 2018: Japanese drug company Takeda appears to be getting serious about making a bid for Shire, the Irish pharmaceutical group that has long been seen as a potential target for one rival or another. Rumours first surfaced at the end of March, but Takeda is now said to be talking to banks about raising the $50bn or so that a successful takeover would require. A successful bid would catapult Takeda into the top ranks of the world's drugmakers. Combined sales of around $33bn would put the merged company into the top six pharma groups globally, ahead even of GSK. Takeda's top products currently are oncology drug Velcade and gastro-enterology treatment Entyvio; Shire's is the ADHD treatment Vyvanse. However, Shire is currently slightly larger than Takeda by revenues and also more valuable by market cap. A formal bid by Takeda could flush out an even bigger rival bidder, like Pfizer or Amgen. Meanwhile, Shire itself appeared to take a defensive move by disposing of a collection of oncology drugs - in which Takeda had expressed interest - to French group Servier for $2.4bn.

Adbrands Weekly Update 10th Apr 2014: Japanese drug company Takeda Pharmaceuticals may have to pay as much as $9bn in punitive damages after a US court found it had hidden indications that patients taking its diabetes blockbuster Actos, whose patent expired in 2011, had a higher risk of dveloping cancer. Takeda was handed a fine of $6bn, but may also have to cover an additional $3bn damages awarded against Eli Lilly, which co-marketed the drug in the US from 1999 to 2006. Lilly claims it is indemnified against any such fines under the terms of its original agreement with Takeda. Both companies disagreed with the verdict and will appeal the fines, a new record for the pharmaceutical industry.

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