The acquisition shows the Japanese company’s growing interest in high-growth emerging markets.
Last year Takeda bought Swiss company Nycomed for $13.7bn, boosting its access to European and emerging markets.
Earlier this year it purchased US company URL for $800m.
Multilab is a mid-sized pharmaceutical company selling branded generics and OTC drugs, with an annual revenue in 2011 of $69m.
Among the products Takeda will gain is Brazil’s leading OTC cold and flu medication, Multigrip.
The acquisition, expected to close by the end of September, will place Takeda among Brazil’s top 10 pharma companies.
“This acquisition significantly reinforces Takeda’s position in Brazil, which is the world’s sixth largest economy,” said Jostein Davidsen, Corporate Officer, Head of Emerging Markets Commercial Operations at Takeda.
“Takeda has ambitious plans for growth in emerging markets. Brazil is our second largest emerging market after Russia/CIS and the acquisition of Multilab is a clear signal of our intention to become a significant player both in Brazil and other high-growth markets.”