Takeda Pharmaceutical Company Limited has received clearance from the European Commission for the proposed acquisition of Shire plc that was announced on May 8.

The EC’s approval is conditional on Takeda and Shire fulfilling commitments given to the EC, specifically in relation to the future potential overlap in the area of inflammatory bowel diseases between Takeda’s marketed product Entyvio (vedolizumab) and Shire’s pipeline compound SHP647.

Takeda and Shire have committed to divest SHP647 and certain associated rights. The divestment is not a condition to the completion of the acquisition, according to the companies.

Entyvio has been granted marketing authorization in more than 60 countries and is the cornerstone of the company’s specialty gastrointestinal portfolio. Takeda expects SHP647 to attract interest from a number of potential buyers.

“We are very pleased to have secured clearance from the European Commission, the final regulatory approval required to proceed with our acquisition of Shire,” said Christophe Weber, president and chief executive officer of Takeda.

The acquisition now has received clearances from the European Commission, the United States Federal Trade Commission, the Japan Fair Trade Commission, the State Administration for Market Regulation in China, and the Brazilian Administrative Council for Economic Defense, among other regulatory authorities.

As announced on November 12, 2018, Takeda has published a circular containing a notice of its decision to hold an Extraordinary General Meeting of Shareholders to vote on the necessary matters relating to the proposed acquisition. The meeting is to be convened at 10:00 a.m. (Tokyo time) on December 5, 2018 at INTEX Osaka, Hall 6B Zone.

Takeda also confirms its previously announced expectation that, subject to receiving the necessary shareholder approvals and sanction of the scheme of arrangement by the Jersey court, completion of the acquisition will take place on January 8, 2019.

(Source: Takeda Pharmaceutical Company Limited)