Production & Manufacturing
Manufacturing

US FTC approves Takeda’s $62bn acquisition of Shire

PBR Staff Writer Published 11 July 2018

Takeda Pharmaceutical’s £45.3bn ($62bn) acquisition of Shire has been unconditionally approved by the US Federal Trade Commission (FTC).

As per the cash-cum stock deal signed in early May, the Japanese pharma company offers to pay $30.33 in cash for each Shire share in addition to either 0.839 new Takeda shares or 1.678 Takeda American depositary shares (ADSs).

Takeda said the FTC’s unconditional clearance of the acquisition is another significant milestone in the transaction process.

The Japanese firm is acquiring Shire with an aim to create a global, values-based research and development (R&D) driven biopharmaceutical company that will be based in Japan.

The combination of Takeda and Shire is also expected to bring together complementary positions in gastroenterology (GI) and neuroscience.

Apart from that, the combination will help the enlarged company become a leading developer of rare diseases and plasma-derived therapies.

Shire’s products are available across hematology, immunology, neuroscience, lysosomal storage disorders and other therapeutic areas. The Irish pharma company markets its products in more than 100 countries.

Takeda, on the other hand, is into R&D activities in oncology, gastroenterology, neuroscience and other therapeutic areas. The Japanese drugmaker is also engaged in the development of vaccines.

The merger has the support of boards of directors of both the firms and following its closing, Takeda shareholders will own about 50% of the enlarged company.

The transaction, which is expected to be completed in the first half of 2019, continues to be subject to various other conditions. These include receipt of other regulatory approvals and approvals by the shareholders of both Takeda and Shire.

Recently, Takeda Pharmaceutical entered into a deal to sell its majority stake of 51.34% in Guangdong Techpool Bio-Pharma (Techpool) to its joint venture (JV) partners Shanghai Pharmaceutical and a fund managed by SFund International Investment Fund Management for $280m.

Techpool is a China-based company focused on developing urinary protein biopharmaceuticals and production of biopharmaceuticals in critical care.


Image: Takeda Midosuji Building, the head office of Takeda Pharmaceutical Company, in Chuo-ku, Osaka, Japan. Photo: courtesy of J o/Wikipedia.org.