July 2, 2008
Takeda Merges With Tap Pharmaceutical Products
Takeda Pharmaceutical has announced that Takeda Pharmaceuticals North America and Takeda Global Research & Development Center merged with Tap Pharmaceutical Products, forming one of the top 15 pharmaceutical companies in the US.
The merger is a result of the conclusion of a 30-year joint venture between Takeda Pharmaceutical Company and Abbott announced March 19, 2008.
According to terms previously announced, Takeda received the rights to Tap's product Prevacid, its non-Lupron related commercial organization, Tap's support organizations, and Tap's pipeline. Effective May 1, 2008 Tap became a wholly-owned subsidiary of Takeda America Holdings.
As a result, Tap will no longer exist as a separate entity reporting to Takeda America Holdings and former Tap employees who were part of this reporting structure will become employees of Takeda Pharmaceuticals North America, its subsidiary, Takeda Pharmaceuticals America or Takeda Global Research & Development Center.
Yasuchika Hasegawa, president of Takeda Pharmaceutical, said: "The merger of Tap and Takeda represents a significant milestone in the integration of two successful companies, and we look forward to maximizing future growth opportunities."