Takeda to buy out Abbott stake in U.S. venture: source
TOKYO (Reuters) - Takeda Pharmaceutical Co (4502.T: Quote, Profile, Research, Stock Buzz), Japan's largest drug maker, plans to buy out Abbott Laboratories Inc (ABT.N: Quote, Profile, Research, Stock Buzz) stake in their 50-50 U.S. joint venture for 500 billion yen ($5 billion), a source close to the deal said on Wednesday.
Takeda has long had its eye on gaining full control of TAP Pharmaceutical Products Inc but has been at odds with Abbott over the price.
Takeda spokesman Seizo Masuda said the drug maker had made no decisions on the matter but would announce a decision as soon as there was one.
(Reporting by Emi Emoto and Ritsuko Shimizu, writing by Edwina Gibbs)
© Thomson Reuters 2008 All rights reserved
Help us advance this story. Provide relevant links or share your insights using our comment box. Please be considerate and help us by reporting any abuse you find. Reuters will delete comments that don't meet community standards.
Have a correction to this article? Email the editors
Sphere
Piracy fight
Obama visits Jewish shrine