Japan’s Takeda Pharmaceutical Co. has taken a step closer to buying out its partner in a U.S. joint venture, the latest sign that the country’s relatively small pharmaceutical companies are becoming more proactive about building their international presence.
Shares of Osaka-based Takeda jumped nearly 4% after the Nihon Keizai Shimbun, Japan’s big economic daily, reported the company was close (subscriber access only) to a long-sought deal that would give it complete control of TAP Pharmaceutical Products Inc., a joint venture it established with Abbot Laboratories Inc. in 1977. TAP, headquartered in Illinois, has successful prostate cancer and heartburn drugs.
A spokeswoman for Takeda said the two companies had been discussing a potential sale of TAP for several years and that those discussions had recently moved forward. She declined to comment further.
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