Deals
Takeda's $64 Billion Offer Bolstered by Shire's Results
- Earnings highlight drugmaker’s growth potential, analyst says
- Takeda reached preliminary pact this week to acquire Shire
This article is for subscribers only.
Shire Plc’s results topped expectations for its latest quarter, bolstering Takeda Pharmaceutical Co.’s case in selling its $64 billion takeover offer to investors.
Revenue at Shire totaled about $3.8 billion in the first three months of the year, more than the $3.7 billion analysts expected, driven by growth in the company’s immunology drugs. About 72 percent of Shire’s sales came from its rare-disease division, a business coveted by Takeda.