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Takeda To Buy Shire For $62.2 Billion

Takeda To Buy Shire For $62.2 Billion

Up to three Shire directors will also join Takeda's board.

The acquisition is expected to become effective in the first half of 2019, Takeda said. Shareholders in the United Kingdom group will hold about 50 percent in the enlarged drugmaker following completion of the deal, which is slated for the first half of next year. With about 30,000 staffers at Takeda and 22,000 at Shire, a 7% cut would cost the jobs of about 3,640 people. Shire is based in Ireland and listed on the London Stock Exchange.

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Takeda said it will launch a "review of the functions undertaken" at Shire's current headquarters in Dublin within the first year.

Takeda has focused on developing and commercialising innovative therapies that address unmet clinical needs in gastroenterology, oncology and neuroscience plus vaccines.

"We can now go after targets and diseases that we couldn't previously", said Plump, who oversees Takeda's research and development operations, which are based in MA.

Takeda will become the only pharma company with dual listings in Tokyo and NY.

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If it materialises, the deal would give Takeda greater access to the USA and European healthcare markets.

The acquisition would be the largest ever for a Japanese company, and would vault Takeda into the top 10 of global pharmaceutical giants. Shire's USA headquarters is in Lexington, MA.

Shire's forte is rare diseases in fields such as blood and immunity, as well as nerve diseases.

Under CEO Weber, Takeda has looked outside of its home market for opportunities to expand in its core areas of gastroenterology, cancer and neuroscience. It would also create the world's eighth-largest drug maker, with combined sales of roughly $30 billion, The Wall Street Journal reported.

The two companies now have more than 50,000 employees between them worldwide and more than 5,000 in MA, making it potentially the biggest pharmaceutical employer in the state.

The Japanese drug maker increased its bid for Shire multiple times over the past month. Their drug pipelines are running dry, and their portfolios of patent-protected medicines shrinking.

Takeda and Shire's annual sales total almost $31 billion taken together, which would make the combined company larger than many industry stalwarts like AstraZeneca and Eli Lilly. The Halifax index fell 3.1% on the month against expectations of 0.2% but was up 2.2% on the same month past year.