Shire logo

SHP - Shire News Story

4690p 0.0  0.0%

Last Trade - 04/01/19

Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £12.02bn
Position in Universe th / 1816

Takeda unlikely to sell OTC drug business -CEO

Mon 7th January, 2019 4:29am
(Adds quote, other details)
    TOKYO, Jan 7  (Reuters) - Takeda Pharmaceutical  4502.T  is
unlikely to sell its over-the-counter (OTC) drug business even
amid pressure to improve its finances as it closes a $59 billion
takeover of London-listed Shire  SHP.L , Chief Executive
Christophe Weber said on Monday.
    After the Shire deal, which closes on Tuesday, Takeda will
have a stronger pipeline and be counted among the top 10
drugmakers by sales globally. 
    But it will also become one of the world's most indebted and
has plans to sell up to $10 billion in non-core assets.
    "It's not our first priority," Weber told a news conference
when asked whether Takeda would sell its OTC business.
    "We have some businesses outside of Japan where we are not
really performing," he said without elaborating further.
    Takeda shares rose nearly 10 percent in the morning session
after it announced the company would issue around 770 million
shares worth 5.85 trillion yen ($54.11 billion). The wider
benchmark index  .N225  was up around 2.7 percent.
    The drugmaker has also secured $29.7 billion in bank loans,
with blended interest rates of around 2.5 percent.
($1 = 108.1200 yen)

 (Reporting By Takashi Umekawa; Editing by Himani Sarkar)
 ((※; 03-6441-1859; Reuters
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.