Takeda Pharmaceutical, Japan’s largest pharmaceutical company, has agreed to acquire Nycomed for €9.6 B (US$13.7 B) in cash, thus increasing its global footprint to more than 70 countries with the addition of Nycomed’s operations in Europe and high-growth emerging markets. The transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to close by the end of September 2011. Nycomed’s diversified product portfolio will increase Takeda’s revenues by more than 30%, thus helping to alleviate the impact of the generic competition facing the company’s successful type 2 diabetes drug, Actos® (pioglitazone).