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(Reuters) – Takeda Pharmaceutical Co Ltd (4502.T) said Thursday that the Japan Fair Trade Commission had approved its acquisition of Shire Plc for $ 62 billion (£ 47.3 billion) (SHP.L), bringing the Japanese firm closer to the conclusion of an agreement that will make it the world's top 10 in the pharmaceutical industry.
PHOTO FILE: The logo of Takeda Pharmaceutical Co is visible in its new headquarters in Tokyo, Japan, on July 2, 2018. REUTERS / Kim Kyung-Hoon – RC1702FA7D40 / File Photo
The transaction, which will be the largest foreign purchase by a Japanese company, has already been unconditionally approved by regulatory authorities in the United States, Brazil and China.
"Takeda is proud of its Japanese heritage and we look forward to building on this legacy as a combined company to continue to deliver highly innovative medicines that will transform patients in Japan and around the world," said Christophe Weber, CEO of Takeda statement.
Takeda also expects from EU antitrust regulators. They should make a decision by November 6, but may open a four-month investigation if they have serious concerns.
Report by Takashi Umekawa in Tokyo and Shashwat Awasthi in Bengaluru; Edited by Sunil Nair
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