Takeda buys into Brazil for 540m reals

Japanese drugmaker Takeda is to buy Brazilian company Multilab for up to 540 million Brazilian reals. Takeda will pay BRL500 million  (£170 million) up front and the remaining BRL40 million as and when milestones are passed.

Multilab made sales of BRL140 million in 2011, primarily from generics and over-the-counter branded products, including its leading cold and flu brand Multigrip. Takeda says that the move will make it a top ten pharmaceutical company in Brazil, where it already has some activity.