Japanese pharmaceutical giant Takeda, which has a major research hub at Cambridge Science Park in the UK, has expanded further in Latin America by launching a wholly-owned subsidiary in Ecuador.Headquartered in the capital Quito, Takeda Ecuador S.A. will be responsible for sales & marketing of Takeda products throughout the country.
The medical technology business is building a leading position in Latin America. It already has a direct presence in Brazil, Mexico, Argentina, Venezuela and Colombia and is looking at opportunities to extend its footprint in the region.
According to IMS Health, pharmaceutical sales in Latin America totaled $74.5 billion in 2012 and are expected to grow at a compound annual rate of eight per cent up to 2016. Takeda plans to outgrow the market over the same period.
Ecuador is a dynamic and growing market, driven by government investment and strong oil and mining industries. The country’s GDP totalled more than $70bn in 2012 while pharmaceutical sales in amounted to $1.27bn and are expected to continue to grow by 10 per cent during 2013.
Takeda Ecuador is building a product portfolio based on the medical needs of the population, focusing on gastroenterology, cardiology, metabolism, oncology and respiratory diseases.
The acquisition of two companies in Cambridge – Millennium Pharmaceuticals and Paradigm – have given Takeda a strong foothold in the UK’s leading technology and business cluster.
Takeda Cambridge Ltd (TCB) at the Science Park and its subsidiary Takeda Singapore Pte Ltd (TSP) have established world-class target identification and validation capabilities.
Together they have developed a promising pipeline of novel drug discovery targets and compounds in key areas of unmet medical need such as CNS disorders, chronic pain and urology indications, endocrinology and metabolic-related diseases.
Formerly Paradigm Therapeutics, TCB was founded in 1999 by Cambridge University researchers and incorporated TSP in 2003. By using genetic models and in vivo pharmacology TCB has developed a promising pipeline of novel drug discovery projects that complement programmed and precedented targets.