Takeda Pharmaceutical Company Limited ("Takeda") today announced the launch of a new trading company in China, Takeda (China) International Trading Co., Ltd. ("TCIT"), which will strengthen its business structure in China, and is an important step in the local integration of Nycomed following Takeda's acquisition of Nycomed completed in September 2011.
TCIT, which began operations in January 2013, will serve as a central hub for importing Takeda products from the Company's global manufacturing sites. To complete the integration with Nycomed in China, about 500 employees from Nycomed Pharmaceutical Consultancy (Shanghai) Co., Ltd. ("Nycomed Shanghai") are being transferred to TCIT and other Takeda China organizations. The liquidation of Nycomed Shanghai is planned to be completed by the end of March 2015.
"Takeda provides patients across China with a broad portfolio of products, which are adapted to local patient needs. Our new business structure will simplify our distribution processes and improve our efficiency to better serve patients in this huge and important market," said Haruhiko Hirate, Corporate Officer and Head of North Asia of Takeda. "In conjunction with the recent opening of our Development Center in Shanghai, we are now best equipped to bring new products to Chinese patients as early as possible."
China is Takeda's seventh largest market by revenue, and a cornerstone of Takeda's strategy to grow in emerging markets. Takeda entered the Chinese market in 1994, and established a strong footprint in China, which today includes sales and marketing, development and manufacturing. Most recently, the acquisition of Nycomed and the investment in the Takeda Shanghai Development Center further strengthened Takeda's commercial position as well as clinical development capabilities.
China is expected to be the largest market in Asia, and second largest globally by 2016. Takeda is outpacing the market growth in China, with the highest market share among Japanese pharmaceutical companies in the country. The Company aims to achieve top line growth of 29% CAGR between FY 2012-2016.
Further information about Takeda (China) International Trading Co., Ltd.:
This company will import finished products from Takeda global manufacturing sites and transfer them to Takeda Pharmaceutical (China) Company Limited, which is the distribution hub for all Takeda products. The current sales force and marketing team of Nycomed Shanghai now belong to this company. The profile of this company is as follows:
About Takeda Pharmaceutical Company Limited
Located in Osaka, Japan, Takeda is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to strive towards better health for patients worldwide through leading innovation in medicine.