Takeda to buy Swiss drugmaker for $12 bn

Japan's top drugmaker Takeda Pharmaceutical has reached a $12 billion deal to buy Swiss drugmaker Nycomed, a report said Thursday. Takeda has struck a basic agreement and is expected to make a formal announcement soon, the Nikkei business daily said in its evening edition. It will be the largest ever acquisition by a Japanese drugmaker and make Takeda the world's 10th largest pharmaceutical company, it said. Takeda currently ranks around 15th globally. Privately held Nycomed has strong sales in emerging markets and Takeda has agreed to purchase the shares from investment funds, as it looks to boost its presence in these markets, it said without citing sources. Drugmakers around the world are looking to expand their revenues from fast-growing economies as market growth is slowing in rich countries, it added. Takeda declined to comment on the report.