Takeda Pharma says no interest in generic drug mkt
SEOUL Nov 10 (Reuters) - Japan's Takeda Pharmaceutical Co Ltd (4502.T) is not eager to expand into the generic drug market, the company's president said on the sidelines of the G20 business summit in Seoul.
"(We are) always screening acquisition targets, but we are not interested in becoming a global generic manufacturer." Yasuchika Hasegawa said on the sidelines of the G20 business summit conference.
Takeda has no plans to enter the Japanese generic market on a fully-fledged basis. In contrast, global giants such as Pfizer Inc (PFE.N) and Sanofi-Aventis SA (SASY.PA), as well as the world's No.1 generic drugmaker Teva Pharmaceuticals Industries Ltd (TEVA.TA) of Israel and Japan's No.3 drugmaker Daiichi Sankyo Co Ltd (4568.T) recently entered or have announced plans to enter the market.
Yasuchika added that Japan's No.1 drugmaker had decided internally to establish a small company in India to explore opportunities but was not considering any acquisitions, citing a tough market situation and low prices.
In late October, Takeda Pharmaceutical reported a 12 percent decline in first-half profit as a key drug lost patent protection, but it lifted its full-year earnings outlook as a stronger yen helped cut overseas costs.
First-half performance contrasted with that of rival Daiichi Sankyo, which posted a big jump in earnings and raised its outlook on a strong turnaround at Indian generic drug subsidiary Ranbaxy Laboratories Ltd (RANB.BO) and on cost reductions. (Reporting by Ju-min Park; Editing by Chris Lewis)
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