Pharmaceutical industry

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Shire takeover completed by Takeda

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Takeda Pharmaceutical has completed its £46bn acquisition of Shire, which will catapult the 237-year-old Japanese group into one of the world’s largest drugmakers with combined revenues of $31bn.

But it will also become one of the world's most indebted drugmakers and has plans to sell up to $10bn in non-core assets.

"It's not our first priority," Weber told a news conference when asked whether Takeda would sell its over-the-counter business.

"We have some businesses outside of Japan where we are not really performing," he said without elaborating further.

Cost-saving deal

Bristol-Myers Squibb is also setting out drugs in the development pipeline with the potential to create $15bn of revenue.

And, of course, there is talk of cost-savings: $2.5bn by 2022.

Blockbusters

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Bristol-Myers Squibb

As mentioned earlier, the enlarged Bristol-Myers Squibb will have nine products with turnover of more than $1bn in annual sales.

In the documents announcing the deal with Celgene, it points to expertise in :

  • oncology (cancer) treatments - through Opdivo and Yervoy as well as Revlimid and Pomalyst
  • immunology and inflammation, where it says it will be in the top five with products such as Orencia and Otezla
  • cardiovascular expertise through Eliquis

Bristol-Myers Squibb shares slide

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Shares in Bristol-Myers Squibb have fallen 13% in pre-market trading after the announcement of the $74bn takeover of Celgene, whose shares are up 30%.

Celgene shareholders are receiving one Bristol-Myers Squibb share and $50 in cash for each of their shares.

The share prices of other pharmaceutical companies are rising. For instance, GlaxoSmithKline which had been trading lower on the day is now up almost 1%.

More on the Bristol-Myers/Celgene deal

Bristol-Myers shareholders will own about 69% of the merged company, with 31% owned by Celgene shareholders.

Giovanni Caforio, chief executive of Bristol-Myers Squibb, said: “As a combined entity, we will enhance our leadership positions across our portfolio, including in cancer and immunology and inflammation. We will also benefit from an expanded early- and late-stage pipeline that includes six expected near-term product launches. Together, our pipeline holds significant promise for patients, allowing us to accelerate new options through a broader range of cutting-edge technologies and discovery platforms”.

Breaking$74bn pharmaceutical deal

Pharmaceutical company Bristol-Myers Squibb is taking over rival Celgene in a deal worth $74bn (£59bn).

The first major takeover of the year will create a company that will have nine blockbuster drugs with annual sales of more than $1bn.

No Deal Brexit risk causes drugs stockpiling

BBC Radio 5 live

Wake Up To Money

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The Pharmaceutical Services Negotiating Committee (PSNC) says the prospect of a No Deal Brexit is causing stockpiling.

The organisation that negotiates drug pricing on behalf of pharmacies told Wake Up To Money that Brexit is already affecting the supply and price of key generic drugs

The PSNC has already warned MPs on the health and social care select committee about the situation.

In October the government asked drug manufacturers to start stockpiling a six-week supply of drugs.

Simon Dukes, chief executive of the PSNC, told BBC 5 live's Wake Up To Money: "Anecdotally, stockpiling is happening in other parts of the supply chain and that may well be exacerbating some of the other supply issues we are seeing."