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Daiichi Sankyo to acquire 2% of own shares

This article was originally published in Scrip

Executive Summary

The board of Daiichi Sankyohas approved a new buyback plan under which the firm will acquire up to 15 million of its own outstanding ordinary shares for a maximum of ¥50 billion ($470.0 million) over the July-August period. The total represents around 2% of the company's outstanding shares. Takeda is planning to cancel around 2% of its shares under a similar programme, as part of efforts by major Japanese pharma firms to improve shareholder returns and to guard against any potential hostile takeover bid through the open market.

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