Takeda is now aiming to increase its global market coverage to approximately 90% by the end of fiscal 2012, one of the key strategic initiatives of the 2010-2012 Mid-Range Plan.
Takeda said that the new subsidiary is expected to conduct sales and marketing of key products for the Korean market. Upon establishment, Takeda will build the infrastructure necessary to support further growth of the organisation.
With more than 48 million people, South Korea is said to be one of the largest pharmaceutical markets in which Takeda does not have a direct presence and a key market for Takeda’s Asian strategy.
Takeda added that the expansion into Korea will increase the value of Takeda’s portfolio, address a sizeable territory coverage gap and strengthen its reputation in Asia.