Takeda Pharmaceuticals International GmbH, a unit of the Japanese pharmaceutical giant Takeda today announced the establishment of wholly-owned subsidiary for marketing in Israel. Takeda currently markets products in Israel through local partners.
Takeda Israel Ltd. will be headquartered in the Tel Aviv area and will be responsible for the sales and marketing of selected products from Takeda's portfolio and pipeline, with an initial focus on oncology. Takeda Israel will also seek local partners with complementary portfolios, through which to launch additional proven medicines from its current portfolio.
Through its established network of local partners, Takeda products currently sold in Israel are Actos for diabetes, Atacand for blood pressure, Contoloc for heartburn, Lucrin for prostrate cancer, and Xefo for pain.
Opening the marketing office comes after Takeda teamed with Johnson & Johnson and Orbimed to invest in the Chief Scientist's new dedicated biotech incubator, and various collaborations with Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA).
According to Business Monitor International, pharmaceutical sales in Israel totaled $1.5 billion in 2012 and are expected to grow at a compound annual rate of 6% between 2013 and 2017, driven by population growth and an increased need for specialty treatments. Takeda said that it plans to outgrow the market over the same period.
Published by Globes [online], Israel business news - www.globes-online.com - on December 18, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013