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Takeda keen to buy Nycomed
By Emi Emoto and Taro Fuse |
May 13, 2011, Friday
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Print Edition
Print Edition
JAPAN'S Takeda Pharmaceutical Co is in talks to buy privately-held Swiss rival Nycomed, which has a significant presence in Europe and emerging markets, in a deal that could be worth more than 1 trillion yen (US$12 billion), two sources said.
Japan's biggest drug maker has already approached a number of major lenders to help finance the deal, the sources said.
"The scale of this buyout is really large. We still don't know the exact details of the deal and the company (Nycomed), but Takeda has carried out this kind of strategy for a long time," said Hiroaki Osakabe, a fund manager at Chibagin Asset Management.
Takeda and Nycomed declined to comment. Takeda, which has long been keen to boost its reach in Europe, has previously said it would be willing to take on debt for future deals.
Nycomed would be a second major deal for Takeda after it bought United States cancer drug specialist Millennium Pharmaceuticals in 2008 for about US$9 billion.
A US$12 billion purchase would be the second-biggest takeover by a Japanese firm after Japan Tobacco's US$19 billion purchase of British rival Gallagher, according to Thomson Reuters data.
Sources said Takeda had hired Deutsche Securities as an advisor. One source said that the deal was in its final stages. Another said that Takeda is talking with several megabanks about financing and that the banks were prepared to lend the money if a deal was reached.
Japanese drug makers, including Daiichi Sankyo and Astellas Pharma, have been actively pursuing acquisitions to boost growth as they face the loss of patent protection on key medicines.
Nycomed is majority owned by four private equity firms, led by Nordic Capital with a 41 percent stake.
Japan's biggest drug maker has already approached a number of major lenders to help finance the deal, the sources said.
"The scale of this buyout is really large. We still don't know the exact details of the deal and the company (Nycomed), but Takeda has carried out this kind of strategy for a long time," said Hiroaki Osakabe, a fund manager at Chibagin Asset Management.
Takeda and Nycomed declined to comment. Takeda, which has long been keen to boost its reach in Europe, has previously said it would be willing to take on debt for future deals.
Nycomed would be a second major deal for Takeda after it bought United States cancer drug specialist Millennium Pharmaceuticals in 2008 for about US$9 billion.
A US$12 billion purchase would be the second-biggest takeover by a Japanese firm after Japan Tobacco's US$19 billion purchase of British rival Gallagher, according to Thomson Reuters data.
Sources said Takeda had hired Deutsche Securities as an advisor. One source said that the deal was in its final stages. Another said that Takeda is talking with several megabanks about financing and that the banks were prepared to lend the money if a deal was reached.
Japanese drug makers, including Daiichi Sankyo and Astellas Pharma, have been actively pursuing acquisitions to boost growth as they face the loss of patent protection on key medicines.
Nycomed is majority owned by four private equity firms, led by Nordic Capital with a 41 percent stake.
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