Takeda Pharmaceuticals will complete its acquisition of privately held Swiss firm Nycomed for around $14bn, increasing the company’s European presence.

The transaction, financed by cash at hand and a loan of around 700bn yen, will see Nycomed turned into a wholly owned unit of Takeda and is expected to be completed by the end of September.

The deal continues a recent spate of high-profile acquisitions by major pharmaceutical companies, including Teva’s recent purchases of Cephalon and Taiyo Pharmaceuticals.

Takeda president Yasuchika Hasegawa said, “Nycomed enables Takeda to maximise the value of our portfolio and gives us an immediate strong presence in the high-growth emerging markets while doubling European sales.”

The transaction is expected to boost Takeda’s expected revenue in the year through March 2014 by approximately 30%, with estimated annualised cost synergies of around 30bn yen within three years.