Takeda Pharmaceutical Co. Ltd. has completed its acquisition of Nycomed A/S for 9.6 billion Euro, making Nycomed a wholly owned subsidiary of Takeda. Dr. Frank Morich has been named chief executive officer of Nycomed in addition to his current role as executive vice president, International Operations (Americas/Europe).

The transaction is part of Takeda's growth strategy. Nycomed adds significant business infrastructure in Europe and emerging markets, enhancing Takeda's regulatory development and commercialization capabilities.

"The combination of both organizations will strengthen Takeda's performance during the 2011-2013 MRP period, and enable us to sustain medium and long-term growth targets starting in fiscal 2015 and extending into the next decade," said Yasuchika Hasegawa, president and chief executive officer of Takeda. "Partnering the two organizations will have complementary effects and further increase our potential to become a truly global pharmaceutical company."

"I look forward to bringing Takeda and Nycomed together to ensure we can achieve enhanced revenue, growth and diversification, while maintaining the strong momentum of both companies," said Frank Morich. "The combined company significantly broadens our coverage of the global pharmaceutical market to more than 70 countries, increasing our global Rx sales ranking to 12th and further strengthening our position in the industry."

The combined company will have an active commercial presence in the therapeutic areas of metabolic diseases, gastroenterology, oncology, cardiovascular health, CNS diseases, inflammatory and immune disorders, respiratory diseases and pain management, as well as a presence in pharmaceutical markets of Japan, North America, Europe and Asia/Emerging Markets.