Biotech behemoth Takeda moving to Hub
Pharma co. in process of mega-deal with Shire
Biotech giant Takeda Pharmaceutical Co. will move its U.S. headquarters to the Boston area from its current offices near Chicago, the company said, as it prepares to acquire Shire Plc in a deal expected to close next year.
“This move, while difficult, will allow closer collaboration across Takeda to best position our future pipeline for success. It will also simplify our existing Takeda U.S. operations,” said Julia Ellwanger, a Takeda spokeswoman. “In determining where we would locate, we’ve looked at a number of factors, including the evolution of Takeda’s portfolio, being closer to where our future pipeline is being generated, and having Takeda U.S. business units together to provide opportunities for employees to develop their careers across our large, diverse business.”
Takeda has roughly 1,000 employees in Deerfield, Ill., a Chicago suburb.
Takeda’s merger with Shire was already expected to make the combined company the largest biotech employer in Massachusetts, combining Takeda’s 2,150 local employees with about 3,000 Shire employees. Ellwanger said it is unclear exactly how many jobs Takeda will add in Massachusetts.
“A number of the employees currently located in the Deerfield office will be provided with job offers and/or relocation opportunities,” she said.
Earlier this year, Takeda agreed to purchase Shire for $62 billion. The deal still needs a number of approvals before it can close, but FTC regulators approved the deal over the summer. Other jurisdictions around the world will have to give their own approvals before the companies can close the purchase. The acquisition is meant to turn Takeda into a global pharmaceutical powerhouse.
“Shire’s highly complementary product portfolio and pipeline, as well as experienced employees, will accelerate our transformation for a stronger Takeda,” Takeda chief executive Christophe Weber said in a statement earlier this year. “Together, we will be a leader in providing targeted treatments in gastroenterology, neuroscience, oncology, rare diseases and plasma-derived therapies.”
Even if the deal falls apart, Ellwanger said, Takeda still plans to move its headquarters to the Boston area.
Also yesterday, Shire pulled out of a commitment originally made in 2016 to move into a 350,000-square-foot building at 500 Kendall St. in Cambridge, according to the Boston Business Journal. Shire did not respond to requests for comment, and it is unclear if this move is related to Takeda’s announcement.
Always a biotech mecca, the Boston area has added more and more biotech jobs in recent years. Cambridge has little — if any — room left for new labs, and developers have begun proposing and building new developments meant to attract biotech and pharmaceutical companies in parts of Boston, including the Seaport District.