Society | Apr 21

Takeda in negotiation to buy out Shire

Japan's Takeda Pharmaceutical has proposed to buy Irish competitor Shire for over 60 billion dollars. If completed, the deal would be one of the biggest acquisitions of a foreign firm by a Japanese company.

Shire sells products in more than 100 countries. The company's board rejected the proposal, saying it significantly undervalues the firm and its potential growth. But Takeda officials say negotiations are still underway.

Takeda hopes the deal will make the company more competitive in cancer and digestive system-related drugs.

Source: ANNnewsCH

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