Takeda (China) International Trading begins operations
Will serve as a central hub for importing Takeda products into China
Japanese pharmaceutical company Takeda has strengthened its business structure in China by establishing a new trading company in the region.
Takeda (China) International Trading (TCIT) will serve as a central hub for importing Takeda products from its global manufacturing sites. It starts operation this month.
Takeda says the move is an important step in the local integration of Nycomed, which was acquired in 2011. About 500 employees from Nycomed Pharmaceutical Consultancy (Shanghai) are being transferred to TCIT and other Takeda China organisations. The liquidation of Nycomed Shanghai will 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 Takeda’s head of North Asia. ‘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. The firm entered the Chinese market in 1994, and established a strong footprint in the region, 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 its commercial position and clinical development capabilities.
China is expected to be the largest market in Asia, and second largest globally by 2016. Takeda aims to achieve top line growth of 29% CAGR between FY 2012–2016.
