Abstract
Ending protracted negotiations, Shire has agreed to be acquired by Takeda Pharmaceutical for nearly $62 billion in cash and stock. The combination of the Irish and Japanese firms will create one of the world’s biggest drug companies. Japan-headquartered Takeda had been seeking a large transaction to help globalize its business and bridge a period during which patents are expiring on key products. The company had to sweeten its bid for Shire several times before the Irish drug firm’s board of directors finally acquiesced. In a presentation to investors, Takeda’s CEO, Christophe Weber, touted the combination for bringing “a balanced geographic footprint and scale” that will help the company compete around the globe. Currently, 34% of Takeda’s sales come from the maturing Japanese market; the deal trims that reliance to 19% and puts nearly half of its sales in the more lucrative U.S. “We have here the ability to create a
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