Levin Calls Takeda/Shire Merger ‘Inspired,’ Says Entire Value Chain Must Address Pricing Issue
Having previously criticized the biopharma industry for squandering the benefits of US tax reform, the former Teva CEO called for more M&A deals that offer a clear strategic rationale, pointing to Takeda/Shire as an example.
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Takeda has closed its $630m acquisition of European regenerative medicine company TiGenix following a successful bid process, but is facing new pressure from a group of shareholders in Japan concerned about its planned purchase of Shire – valued at around 100 times that amount.
Former Teva and current Ovid CEO Jeremy Levin says pharma should use tax reform gains for business development, not share buybacks. Also, Patient-focused drug development (PFDD) is about more than just getting new drugs approved, an advocate says, while FDA previews coming guidance on PFDD. And, Alnylam’s CEO reflects on what it took financially to get RNAi to the threshold of its first product approval.
Takeda and Shire see their £46bn combination bringing commercial and pipeline strengths across multiple therapeutic areas, along with opportunities for cost synergies and strengthening in key geographic markets.