Japanese drugmaker buying Shire for $62.4 billion

Shire PLC

After weeks of bidding, the Japanese drugmaker agreed to shell out $62 billion on the rare disease specialist, 46% cash, 54% stock-roughly the same terms Takeda disclosed when it announced its fifth bid. Takeda's acquisition is part of its strategy to expand internationally and add to its cancer, stomach and brain drug portfolios. About 1,000 of its 5,000 USA employees are in Deerfield. Pharma giant AstraZeneca (AZN) was broadly unmoved at £52.22 after selling the rights to its antipsychotic treatment Seroquel to Luye Pharma for $538m.Ben & Jerry's owner Unilever (ULVR) announced the start of a buyback programme of up to €6bn, helping the stock rise 2.5% to £40.79.Shares in bookie William Hill (WMH) unveiled weaker sales in retail and focused a strong performance online and in the U.S. over the 17 weeks ending 24 April 2018. We've built strong capabilities in Deerfield. "Being aware means we are also very conservative in our forecasts", Weber said on the call. He informed that the merger will retain about $600 million in replica research and development costs.

The companies expect to complete the deal in the first half of 2019. Takeda's existing shareholders are facing a hard time as their stake will be reduced to half. Sequeira said Tuesday it would be premature to comment on where those job cuts might be. Shire's shares have soared 31%, giving the company a market capitalisation of about $50bn. Most of its employees are in the United States. A company spokeswoman did not respond to a request for comment on how many of those employees are in IL.

Currently, about a third of Takeda's sales come from the Japanese market, with a similar share represented by US sales.

The deal will provide Takeda more access to the US market.

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Founded in 1781 in Osaka, Japan, Takeda is a global, R&D-driven pharmaceutical with around 30,000 employees globally and operating in 70 countries and regions.

Analysts have described Shire as an attractive target for Takeda, with a portfolio of existing treatments in fields where the barriers to entry are high and profits large.

"Over the last 30 years, Shire has become the global leader in treating rare diseases, delivering innovative products that transform patients' lives", said Shire chairman Susan Kilsby.

Takeda, meanwhile, has like many Japanese companies been expanding overseas to compensate for slowing growth at home.

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