Takeda said it will slash its global workforce by around 2,800 jobs—700 in the US, the rest in Europe—as it absorbs Nycomed and moves toward a more diverse product portfolio.
The cuts, said Takeda, will span R&D, commercial operations and administrative functions, and will involve the “consolidation of a number of sites and functions, including the potential merger or liquidation of subsidiaries mainly in Europe and a reduction of workforce in the United States,” mainly at Takeda Pharmaceuticals North America.
“The combination of Takeda and Nycomed, which we acquired on September 30, 2011, brought together Takeda's strong presence in the Japanese and U.S. markets with the legacy of Nycomed business infrastructure in Europe and high-growth emerging markets,” said Yasuchika Hasegawa, president and CEO, Takeda Pharmaceutical Company Limited. “While our combined operations in more than 70 countries are more complementary than overlapping, there are a number of areas where we will need to make changes to ensure efficient and flexible operations.”
Takeda acquired Nycomed in a €9.6 billion deal, giving the Japanese pharma giant a presence in Europe and emerging markets to match its US footprint. The downsizing is expected to save ¥200 billion through 2015, but at a cost of ¥70 billion.
The company said the cuts were needed to rebalance its product portfolio from one dominated by mature products like Actos to an array of newer therapies. Takeda boasts products in categories including metabolic, gastroenterology, oncology, cardiovascular, CNS, inflammatory and immune, respiratory and pain management.