Takeda Pharmaceutical Co. said Tuesday it has completed the acquisition of Irish drugmaker Shire PLC and made it a wholly owned subsidiary, becoming a global top 10 pharmaceutical company in terms of sales.
The ¥6.2 trillion ($57 billion) takeover of Shire made it the biggest-ever Japanese acquisition of a foreign firm. The deal is expected to nearly double Takeda's annual consolidated sales to $31.3 billion.
The Japanese drugmaker, known for its expertise in oncology, gastroenterology and neuroscience, aims to boost sales in medicines for rare diseases such as hemophilia — in which Shire has strength — and expand its business in the key U.S. market through the deal.