Takeda gets key U.S. regulatory approval to buy Shire

Japan's Takeda Pharmaceutical Co Ltd said on Tuesday it received a key U.S. regulatory approval for its $62 billion deal to buy London-listed Shire Plc.


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TOKYO (Reuters) – Japan’s Takeda Pharmaceutical Co Ltd said on Tuesday it received a key U.S. regulatory approval for the $62 billion acquisition of London-listed Shire Plc.

Shire branding is seen outside their offices in Dublin, Ireland, April 25, 2018. REUTERS/Clodagh Kilcoyne

Takeda has received unconditional clearance from the United States Federal Trade Commission for the Shire deal, the drugmaker said.

The Shire deal would turn Takeda into one of the world’s largest drugmakers.

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

However, the remaining hurdles for the Tokyo-listed company include getting a regulatory nod from the European Union and China and approval from shareholders of both drugmakers.

Chief Executive Christophe Weber has been working to persuade investors about the deal, which has weighed heavily on Takeda’s stock price.

Takeda shares closed flat on Tuesday, while the statement was released after trading hours.

It expects the deal to close in the first half on 2019, Takeda said.

Reporting by Sam Nussey, Editing by Sherry Jacob-Phillips

Story originally published at Reuters.com

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