Date: 2011-05-19
Type of information: Company acquisition
Acquired company: Nycomed (Switzerland)
Acquiring company: Takeda Pharmaceutical (Japan)
Amount: € 9.6 billion
Terms: On September 30, 2011, Takeda Pharmaceutical Company Limited announced it has completed its acquisition of Nycomed A/S for 9.6 billion Euro on a cash-free, debt-free basis and made Nycomed a wholly owned subsidiary of Takeda effective the same day. Dr. Frank Morich has been named CEO of Nycomed in addition to his current role as Executive Vice President (EVP), International Operations (Americas/Europe), Takeda Pharmaceuticals International, Inc., a wholly owned subsidiary of Takeda America Holdings, Inc. On May 19, 2011, Takeda Pharmaceutical and Nycomed jointly announced that Takeda has reached an agreement with the shareholders of Nycomed in which Takeda will acquire the Zurich-headquartered company for € 9.6 billion on a cash-free, debt-free basis. The boards of directors of each company unanimously approved the transaction which is expected to be completed within 90 to 120 days, making it a wholly owned subsidiary of Takeda, subject to antitrust clearance. The purchase would exclude Nycomed's U.S. dermatology business.
This transformational transaction is a strategic fit with Takeda's sustainable growth strategy as it was outlined in its 2011-2013 Mid-Range Plan. Takeda has its strong presence in the Japanese and U.S. markets, while Nycomed has a significant business infrastructure in Europe and high-growth emerging markets that will enhance Takeda's regulatory development expertise and commercialization capability. The acquisition includes the roflumilast franchise (Daxas®; trade name in Europe), a first-in-class treatment for chronic obstructive pulmonary disease (COPD), which is expected to be a major source of revenue growth for Takeda. In addition, the acquisition will bring Takeda an immediate and stable increase in cash flow with Nycomed's more than € 2.8 billion in annual revenue, excluding the U.S. Dermatology business.
Details: The sellers are comprised of a consortium of private equity funds led by Nordic Capital Funds V and VI ("Nordic Capital"), including DLJ Merchant Banking Partners (a Credit Suisse affiliate), Coller International Partners IV and V, and Avista Capital Partners.
Related: Gastroenterology
Respiratory diseases
Inflammatory diseases
Pain
Osteoporosis
Tissue management
OTC products
