Japan’s Takeda clinches $62 billion deal to buy drugmaker Shire

Japan’s Takeda clinches $62 billion deal to buy drugmaker Shire

https://www.reuters.com/article/us-shire-m-a-takeda/japans-takeda-agrees-to-62-billion-takeover-of-shire-idUSKBN1I90IC

BUSINESS NEWS

MAY 8, 2018 / 2:22 AM

Japan’s Takeda clinches $62 billion Shire deal as pharma M&A rolls on

Ben HirschlerPaul SandleSam Nussey

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.

Read entire story by clicking on link above.

TWG

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One Response to Japan’s Takeda clinches $62 billion deal to buy drugmaker Shire

  1. What A Tangled Web says:

    Baxter spins off Baxalta . Baxalta sells to Shire. Now Shire sells to Takeda after selling its oncology division to a French company. The Joint Development Authority hawked the Shire deal to the Four County taxpayers as cannot fail venture, but the volatility of the Biomed market now suggests otherwise.
    I wonder if even one of the all-knowing soothsayers of the four County Development board has any clue as to the fate of Baxter’s plasma drug, which was purported to receive FDA approval in 2018 ? Which company even owns the patent rights to the drug? This is very important, because the early agreement with between Baxter and JDA had tax payments to Four County government slated to begin only after Baxter’s plasma drug received FDA approval. Is there any chance that this plasma drug never receives FDA approval? What if the patent rights were not passed along with each previous sale? What then? Who even knows? The Joint Development Authority has a lot of explaining to do.

    Shire sells oncology unit to France’s Servier for $2.4bn
    Deal may make Irish drugmaker less attractive to Takeda, which has been eyeing bid

    https://www.ft.com/content/429330f0-4142-11e8-803a-295c97e6fd0b

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