Takeda Completes 7-T.-Yen Buyout of Shire

Economy

Tokyo, Jan. 8 (Jiji Press)--Japan's Takeda Pharmaceutical Co. <4502> said Tuesday it has completed its acquisition of Irish pharmaceutical firm Shire PLC.

According to an estimate made when the deal was reached in May last year, the acquisition price is about 7 trillion yen, the largest ever buyout of a foreign firm by a Japanese company.

With the deal raising its sales to around 3.4 trillion yen, Takeda joined the ranks of leading global pharmaceutical companies.

While many firms in the industry are struggling to develop new drugs, Takeda, thanks to the purchase of Shire, is now privileged to get hold of prospective candidates of new drugs and step up investment in their research and development.

Takeda took full control of Shire. It issued 770 million new shares for the cash-and-stock deal.

[Copyright The Jiji Press, Ltd.]

Jiji Press