Takeda sets target date to close $62B Shire deal

Aiming to close its deal for Shire on Jan. 8, Japanese drugmaker, Takeda Pharmaceutical will hold an extraordinary general meeting of shareholders to vote on the $62B transaction on Dec. 5.

The deal would be the largest-ever overseas acquisition by a Japanese company, but it still needs two-thirds support from shareholders, some of whom are worried about the enlarged company's resulting debt burden, as well as regulatory approval from the EU.

Last month, Takeda offered to divest Shire Plc's pipeline compound SHP647 along with some associated rights after the European Commission voiced concerns about the overlap with its own drug for inflammatory bowel disease called Entyvio.

Entyvio, a treatment for Crohn's disease and ulcerative colitis, is Takeda's biggest-selling drug.

Takeda Pharmaceutical is looking to the acquisition to boost its late-stage pipeline. Rare disease specialist Shire has seven drug candidates in Phase 3 clinical trials compared to its three. The deal would also make it a global top 10 drugmaker.

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