The proposed takeover of Shire PLC (LON:SHP) by Japan’s Takeda Pharmaceutical Company Ltd has received conditional clearance from the European Commission.
The companies have agreed to sell SHP647 – an inflammatory bowel disease treatment Shire is developing – along with some associated rights to help ease concerns about an overlap in similar drugs, including Takeda’s biggest-seller Entyvio.
READ: Takeda proposes sale of Shire drug to gain EU clearance for US$62bn merger
However, the divestment is not a condition to completing the deal.
The sale of the drug was proposed by Takeda in talks with the EU, as announced in October.
Takeda has already secured unconditional clearance from regulators in the US, Japan, China and Brazil for the US$62bn deal to buy the British drugmaker.
The acquisition is expected to be completed on January 8, subject to shareholder approval.