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EU approves Takeda buying Shire, on divestment condition

Published 11/20/2018, 09:13 AM
Updated 11/20/2018, 09:15 AM
© Reuters. FILE PHOTO: The logo of Takeda Pharmaceutical Co. is displayed at the company's news conference venue in Tokyo
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BRUSSELS (Reuters) - The European Commission said on Tuesday that it approved the $62-billion takeover of London's Shire plc (L:SHP) by Takeda Pharmaceutical (T:4502) of Japan, subject to the divestment of a Shire drug in development.

In a statement, the Commission said Takeda had agreed to the sale in order to ensure that the drug in Shire's product pipeline aimed at treating inflammatory bowel disease would continue its way to the market, where it is expected to compete with Entyvio, Takeda's biggest-selling drug.

Reuters reported the approval was expected on Nov. 9.

© Reuters. FILE PHOTO: The logo of Takeda Pharmaceutical Co. is displayed at the company's news conference venue in Tokyo

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

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