Takeda acquisition of Shire : Japanese pharma company Takeda Pharmaceutical wrapped up its previously announced acquisition of Shire, an Irish biotech company with a focus on rare diseases, for $62 billion, as per the latest pharma acquisition news.
Takeda acquisition of Shire
It was in May 2018 when Takeda agreed to acquire the Irish rare disease drugmaker in a cash-cum-stock deal with an aim to establish a global, values-based research and development (R&D) powered biopharma company with headquarters in Japan.
Takeda acquisition of Shire was approved by 89.1% of the Japanese pharma company’s shareholders and 99.8% of the Irish biotech company’s shareholders.
According to the terms of the Takeda Shire acquisition, the Japanese firm agreed to tender $30.33 in cash for each share of the Irish biotech company along with either 0.839 of its new shares or 1.678 of its shares listed on the New York Stock Exchange.
As per pharma acquisition news, Takeda acquisition of Shire was approved in last November by the European Commission subject to the firms’ commitment to divest the SHP647 compound and some associated rights. In October 2018, Takeda Shire acquisition was approved unconditionally by the US Federal Trade Commission.
Last year, Takeda acquisition of Shire also secured the required approvals from the Japan Fair Trade Commission, the State Administration for Market Regulation in China, the Brazilian Administrative Council for Economic Defense among other regulatory bodies across the world.
Christophe Weber – President and CEO of Takeda, commenting on Takeda acquisition of Shire, said: “We are delighted that the acquisition was approved by an overwhelming majority of our shareholders at Takeda’s extraordinary general meeting on December 5th, 2018. We are also pleased to have completed the acquisition several months earlier than expected, which was enabled through the hard work of our respective organizations and the smooth receipt of regulatory clearances.
“We appreciate the support of our employees, partners and shareholders throughout the process. This marks a significant moment in Takeda’s history and is an exciting step forward as we accelerate our transformation journey to deliver highly-innovative medicines to patients around the world with expanded scale and geographical footprint.”
Shire develops drugs that target the hematology, neuroscience, immunology, lysosomal storage disorders among other therapeutic areas. Its drugs are sold across 100 plus countries.
Takeda, on the other hand, is focused on R&D activities into various therapeutic areas such as oncology, neuroscience and gastroenterology, in addition to development of vaccines.
The enlarged pharma company resulting from Takeda acquisition of Shire is expected to generate over $30 billion in revenue with a bulk of it to come from oncology, gastroenterology (GI), rare diseases, neuroscience and plasma-derived therapies (PDT).
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