Japanese drug maker Takeda Pharmaceutical Co. has moved one step closer to acquiring a Thousand Oaks genetics laboratory owned by U.K.-based biopharmaceutical company Shire as part of a deal that could impact hundreds of Valley area jobs.
Reuters reported Nov. 12 that Takeda will hold an investor vote to approve a $62 billion deal for Shire on Jan. 8. Reuters had previously reported the company is set to win conditional EU antitrust approval for its bid for Shire, the biggest overseas acquisition by the Japanese firm. A ruling by the EU is expected by Nov. 20.
Takeda has already won clearance from regulators in the U.S., Japan, China and Brazil. The acquisition was first announced in May.
The acquisition would create the world’s eighth-largest drug maker with combined sales worth $30 billion. The deal is expected to close by the summer of 2019.
The Takeda takeover will mean layoffs, the Osaka-based company said. What’s unclear is how it might affect Shire operations in the Valley area, which include multiple offices in addition to the Thousand Oaks lab. The company employs around 1,900 workers in the region, according to the Business Journal’s annual list of largest private-sector employers.