Takeda May Sell Shire Pipeline Drug to Clear EU Antitrust Review
Takeda May Sell Shire Pipeline Drug to Clear EU Antitrust Review
(Bloomberg) -- Takeda Pharmaceutical Co. is in talks with European antitrust regulators about selling an experimental inflammatory bowel disease drug to help close its $62 billion takeover of Shire Plc.
In a statement released Friday, Takeda said that it has been in discussions with the European Commission about divesting SHP647, which is in the final stages of experimental testing for the treatment of two gastrointestinal disorders: Crohn’s disease and ulcerative colitis.
Takeda already markets the drug Entyvio for those conditions. In fiscal year 2018, Entyvio brought in $1.82 billion for the Osaka-based drugmaker, which in the statement called the drug “the cornerstone of Takeda’s diverse specialty gastrointestinal portfolio.”
Takeda said it isn’t in discussions with the European Commission about any other assets, and that it doesn’t anticipate a delay in closing the deal. European regulators have a Nov. 6 deadline to complete their review.
The takeover has already won approval from China, the U.S. Federal Trade Commission, Brazil and Japan, making Europe the final major market that needs to sign off.
To contact the reporter on this story: Drew Armstrong in New York at darmstrong17@bloomberg.net
To contact the editors responsible for this story: Drew Armstrong at darmstrong17@bloomberg.net, Cynthia Koons
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