Takeda Pharmaceutical Company Limited today issued the following statement with regard to its discussions with the European Commission as part of its Phase 1 review of the proposed acquisition of Shire plc announced on May 8, 2018:
Takeda confirms that it is in discussions with the EC in relation to the future potential overlap in the area of inflammatory bowel disease between Takeda’s marketed product Entyvio and Shire’s pipeline compound SHP647, which is currently in Phase III clinical trials, and has proposed a remedy of a potential divestment of SHP647 and certain associated rights.
The company remains committed to Entyvio, which has been granted marketing authorization in more than 60 countries and is the cornerstone of Takeda’s diverse specialty gastrointestinal portfolio.
Takeda confirms that there are no discussions with the EC regarding any other marketed products or assets in the pipeline.
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Takeda does not anticipate that its discussions with the EC will result in a delay to its previously announced timetable for completion of the transaction. A further announcement will be made as appropriate.
The Acquisition remains subject to certain other conditions, including receipt of the remaining regulatory clearances and approval by the shareholders of both companies.
Date: October 29, 2018
Source: MarketScreener