OSAKA, Japan—Takeda Pharmaceutical Company Ltd. (TSE:4502/NYSE:TAK) announced late last week that it has completed its previously announced acquisition of Shire plc. Takeda said that, with the closing of the estimated $62 billion deal, it has become “a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan.” Takeda now will have an expanded geographic footprint and a leading position in Japan and the U.S., and will be in position to bring its innovative medicines to approximately 80 countries and/or regions with dedicated employees worldwide, the announcement noted.

Going forward, Takeda’s R&D efforts will focus on four therapeutic areas: oncology, gastroenterology, neuroscience and rare diseases, with targeted R&D investment also committed to plasma-derived therapies (PDT) and vaccines. The combined annual revenue of the company, which is expected to exceed $30 billion, is mainly derived from the four key business areas.

According to reports, Takeda has been considering whether to sell Shire’s eyecare business (primarily Xiidra) once the deal closes as it seeks ways to reduce debt related to the acquisition, as VMAIL reported last fall.

“We are delighted that the acquisition was approved by an overwhelming majority of our shareholders at Takeda's extraordinary general meeting on Dec. 5, 2018,” Takeda president and chief executive officer Christophe Weber said in the announcement. “We are also pleased to have completed the acquisition several months earlier than expected, which was enabled through the hard work of our respective organizations and the smooth receipt of regulatory clearances.”

In order to fund the acquisition, Takeda has secured permanent financing with "highly competitive rates, resulting in an overall blended interest rate for Takeda's total debt of approximately 2.3 percent," the company noted, and added that it is “confident that it will retain its investment grade credit rating.”