TAP Pharmaceutical is building a closer relationship with its half owner, Takeda Pharmaceutical, just as talk heats up that the Japanese parent may buy the remaining stake in the 50-50 joint venture it holds with Abbott Laboratories. Takeda and TAP will co-promote the sluggish selling Rozerem sleeping pill, among other meds.

Last month, Abbott ceo Miles White said the “atmosphere” may finally be right for Abbott to sell its to Takeda. Such talks have been on and off in the past, and White told analysts in a conference call last month that no deal is imminent but both companies have agreed they would “ultimately like to resolve it in some way.”

Why? TAP sales have slowed and there have been delays in getting new meds to market, The Chicago Tribune reports.[tags]Abbott Laboratories, Takeda Pharmaceuticals, Tap Pharmaceutical[/tags]