Takeda gets Japan FTC nod for US$62 bln Shire acquisition

October 19, 2018 08:55
Takeda's acquisition of Shire will propel the Japanese firm into the global top 10 in the pharma industry. Photo: Reuters

Takeda Pharmaceutical said on Thursday that Japan's Fair Trade Commission (FTC) had approved the firm's US$62 billion acquisition of Ireland-based drugmaker Shire Plc.

Following the Japanese regulatory approval, Takeda is a step closer to sealing the mega deal that will make it a global top 10 pharma company, Reuters reports.

The Shire acquisition, which marks the largest overseas purchase by a Japanese company, has already received unconditional clearance from regulators in the United States, Brazil and China.

"Takeda is proud of its Japanese heritage, and we are looking forward to building on this heritage as a combined company to continue delivering highly-innovative medicines that are transformative to patients in Japan and around the world,” Takeda CEO Christophe Weber said in a statement.

Takeda is now awaiting a nod from EU antitrust regulators.

European authorities are expected to make a decision by Nov. 6 but can open a four-month long investigation if they have serious concerns, the report said.

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