EU clears Takeda's takeover of Nycomed

European regulators cleared on Tuesday a takeover in the pharmaceutical sector worth 9.6 billion euros ($13.6 billion) by Japanese firm Takeda Pharmaceutical of Swiss drugmaker Nycomed. The European Commission announced its approval after tests showing that the combined market share of Takeda and Nycomed in Austria, Germany and Italy, where they both sell proton pump inhibitors (PPIs), drugs used in treating ulcers and other stomach acid disorders, "is not very high." The deal was agreed in May during a series of acquisitions for Japanese firms looking to make the most of a strong yen and offset limitations in a shrinking home market. Best-known for its Actos diabetes treatment, Takeda is Japan's biggest drugmaker by revenue.