Takeda Launches New Subsidiary in Ecuador
Takeda Pharmaceuticals International GmbH, today announced further expansion of its presence in Latin America with the launch of its wholly-owned subsidiary in Ecuador. Takeda Ecuador S.A. will be headquartered in Quito and will be responsible for the sales and marketing of Takeda's products in Ecuador.
Takeda is building a leading position in Latin America. It has a direct presence in Brazil, Mexico, Argentina, Venezuela, Colombia and Ecuador, and is looking at opportunities to further expand its footprint in the region. According to IMS Health, pharmaceutical sales in Latin America totaled US$ 74.5 billion in 2012 and are expected to grow at a compound annual rate of 8%* between 2012 and 2016. Takeda plans to outgrow the market over the same period.
Ecuador is a dynamic and growing market, driven by government investment and strong oil and mining industries. The country's GDP totalled more than US$ 70 billion in 2012 while pharmaceutical sales in amounted to US$1.
7 billion and are expected to continue to grow by 10% during 2013*.
In line with the Takeda's emerging markets strategy, Takeda Ecuador is building a product portfolio based on the medical needs of the population, focusing on gastroenterology, cardiology, metabolism, oncology and respiratory diseases. The Company will initially focus on Zurcal (pantoprazole), Faktu (Policresulen, Cinchocaine hydrochloride), Alevian Duo (Pinaverium bromide, Dimeticone) and Tecta (pantoprazole magnesium) and its gynaecology product, Albothyl (Policresulen), which Takeda repatriated following the Nycomed acquisition.
Takeda Ecuador plans to leverage its sales platform with a steady stream of product launches from its existing portfolio and R&D pipeline.
Carlos Haro has been appointed country manager for Ecuador. He joins the Company from Sanofi, where he was the General Manager for Ecuador.
He will lead the start-up team which will grow steadily as the Company expands its portfolio and enters new therapeutic areas.
"The launch of our subsidiary in Ecuador reinforces Takeda's position in Latin America and will enable us to meet the diverse healthcare needs of the population. We have an established product portfolio, which will give us a strong starting point and we look forward to launching our novel medicines into the market," said Norbert Oppitz, Senior Vice President, Latin America, at Takeda "This investment further demonstrates our commitment to Latin America and its growth potential. We have ambitious plans in this region and we continue to evaluate opportunities to expand our footprint."