Takeda Pharmaceutical is close to completing the $62bn acquisition of Irish biopharmaceutical company Shire after receiving approval from the Japan Fair Trade Commission.
The company agreed to acquire Shire after placing an improved offer in May this year.
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The antitrust approval comes after the transaction obtained clearances from regulators in several jurisdictions, including the US, China and Brazil.
Takeda Pharmaceutical president and CEO Christophe Weber said: “We are very pleased to have received unconditional clearance from the Japan Fair Trade Commission for our proposed acquisition of Shire.
“Takeda is proud of its Japanese heritage, and we are looking forward to building on this heritage as a combined company to continue delivering highly-innovative medicines that are transformative to patients in Japan and around the world.”
Other outstanding closing conditions for the transaction include receiving the remaining regulatory clearances, as well as approval from the shareholders of both companies.
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By GlobalDataIf the deal is completed, Takeda is expected to become one of the top ten global drugmakers.
The acquisition will allow the combined company to be better equipped to deliver rare disease and plasma-derived therapies. In addition, the transaction will bring together the companies’ expertise in gastroenterology and neuroscience.
The combined entity will have a significant geographic footprint, greater scale and efficiencies, as well as improved R&D productivity.
Takeda signed a bridge facility deal for $30.85bn with JP Morgan Chase Bank, Sumitomo Mitsui Banking and MUFG Bank to finance the transaction.
The company employs 30,000 staff and its R&D division is focused on oncology, gastroenterology and neuroscience therapeutic areas as well as vaccines.
