Exclusive: Takeda to win EU approval for US$62 billion Shire deal - sources

Exclusive: Takeda to win EU approval for US$62 billion Shire deal - sources

EU antitrust regulators are set to approve Japanese drugmaker Takeda Pharmaceutical's US$62-billion offer for London peer Shire on condition that Shire sells a drug it has in development, a person familiar with the matter said on Friday.

FILE PHOTO: Takeda Pharmaceutical Co's logo is seen at its new headquarters in Tokyo
FILE PHOTO: Takeda Pharmaceutical Co's logo is seen at its new headquarters in Tokyo, Japan, July 2, 2018. REUTERS/Kim Kyung-Hoon/File Photo

BRUSSELS: Japanese drugmaker Takeda Pharmaceutical is set to win conditional EU antitrust approval for its US$62-billion bid for London's Shire, the biggest ever overseas acquisition by a Japanese company, two people familiar with the matter said on Friday.

Last month, Takeda offered to divest Shire Plc's pipeline compound SHP647 along with some associated rights after the European Commission voiced concerns about the overlap with its own drug for inflammatory bowel disease called Entyvio.

Entyvio, a treatment for Crohn's disease and ulcerative colitis, is Takeda's biggest-selling drug.

Shire's shares moved into positive territory in London following the Reuters story, closing up 0.28 percent. Its U.S. listed shares recovered some earlier losses after the story.

Takeda is looking to the acquisition to boost its late-stage pipeline. Rare disease specialist Shire has seven drug candidates in Phase 3 clinical trials compared to its three. The deal would also make it a global top 10 drugmaker.

The EU competition enforcer, which is scheduled to rule on the deal by Nov. 20, and Takeda declined to comment. Shire did not immediately respond to a request for comment.

Takeda has already secured unconditional clearance from regulators in the United States, Japan, China and Brazil.

(Reporting by Foo Yun Chee; Editing by Elaine Hardcastle and Susan Fenton)

Source: Reuters

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