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CFO: Ready for new acquisitions

Reuters TOKYO (Reuters) — Japan’s Takeda Pharmaceutical Co. said it has the financial capacity for fresh acquisitions to bolster its drug portfolio after agreeing on Monday to acquire cancer drug maker Ariad Pharmaceuticals in a $5.2 billion deal.

Takeda’s Chief Financial Officer James Kehoe said that the Japanese company’s acquisition spree may continue.

“Should the right deal come along we have the capacity,” Kehoe said during a conference call after Takeda announced the Ariad purchase. The company was in a position to limit its debt burden and retain a strong credit rating, he said.

At the end of its last business year that ended on March 31, Takeda had ¥438 billion ($3.79 billion) in cash and cash equivalents.

Takeda’s Chief Executive Officer Christophe Weber said on the same call that while there were not many opportunities to buy cancer drugs and central nervous system drugs, such as Alzheimer remedies and bipolar treatments, the company, nevertheless, would make acquisitions “that make sense.”Speech

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