Japanese drug maker Takeda Pharmaceutical secured EU approval for its $13.68 billion acquisition of privately owned Nycomed to reinforce its presence in emerging markets, according to Reuters.

The takeover by Takeda, Japan's largest drug maker, will also add a newly approved lung-disease drug and a portfolio of over-the-counter products to its range.

Swiss-based Nycomed also provides an immediate source of stable cash flow to Takeda, whose top-selling diabetes drug Actos faces the upcoming expiry of its U.S. patent.

The European Commission said in a statement that the deal would not hamper rivals. "The Commission's examination showed that the combined market share of Takeda and Nycomed in Austria, Germany and Italy is not very high and they will face the competitive constraint exerted by other companies in the sector,” said the Commission.