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SHP - Shire News Story

4690p 0.0  0.0%

Last Trade - 04/01/19

Sector
Healthcare
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £12.34bn
Position in Universe th / 1807

EXCLUSIVE-Takeda to win EU approval for $62 bln Shire deal -sources

Fri 9th November, 2018 5:53pm
* Bid is Japan's biggest ever overseas corporate takeover
    * Takeda looks to acquisition to boost late-stage pipeline  
    * Shire shares in London turn positive after Reuters story
    * EU competition enforcer due to rule on deal by Nov. 20

 (Adds Shire share price reaction)
    By Foo Yun Chee
    BRUSSELS, Nov 9 (Reuters) - Japanese drugmaker Takeda
Pharmaceutical  4502.T  is set to win conditional EU antitrust
approval for its $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  SHPG.O  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)
 ((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))
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