MAY 8, 2018 / 2:22 AM
Japan’s Takeda clinches $62 billion Shire deal as pharma M&A rolls on
7 MIN READ
LONDON/TOKYO (Reuters) – Takeda Pharmaceutical agreed to buy London-listed Shire for 45.3 billion pounds ($62 billion) on Tuesday, the biggest yet in a wave of deals sweeping the drugs industry.
To pay off debts quickly, Takeda plans to slash thousands of jobs and cut back on duplicated drug research.
Jobs will go, with the group’s combined 52,000 workforce likely to be reduced by 6-7 percent. The companies have a number of commercial, research and manufacturing overlaps, particularly in the United States.
Takeda said it would maintain its global headquarters in Japan and evaluate consolidating Shire’s operations into Takeda’s in the Boston area, Switzerland and Singapore.
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