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Exclusive: Takeda to win EU approval for $62 billion Shire deal - sources

Reuters  |  BRUSSELS 

By Foo Yun Chee

BRUSSELS (Reuters) - Japanese drugmaker is set to win conditional EU antitrust approval for its $62-billion bid for London's Shire, the biggest ever overseas acquisition by a Japanese company, two people familiar with the matter said on Friday.

Last month, Takeda offered to divest Shire Plc's pipeline compound SHP647 along with some associated rights after the voiced concerns about the overlap with its own drug for called Entyvio.

Entyvio, a and ulcerative colitis, is Takeda's biggest-selling drug.

Shire's shares moved into positive territory in following the story, closing up 0.28 percent. Its U.S. listed shares recovered some earlier losses after the story.

Takeda is looking to the acquisition to boost its late-stage pipeline. specialist Shire has seven drug candidates in Phase 3 clinical trials compared to its three. The deal would also make it a global top 10 drugmaker.

The EU competition enforcer, which is scheduled to rule on the deal by Nov. 20, and Takeda declined to comment. Shire did not immediately respond to a request for comment.

Takeda has already secured unconditional clearance from regulators in the United States, Japan, and

(Reporting by Foo Yun Chee; Editing by and Susan Fenton)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 09 2018. 23:41 IST