Drug fears over £46bn takeover

THE boss of Takeda has tried to soothe investor concerns over the company’s planned £46bn takeover of Irish drugs firm Shire.

Christophe Weber said he was not concerned by emerging rivals to Shire’s haemophilia treatments, which account for roughly 25pc of its revenues. The Frenchman is trying to win support for deal, which would be Japan’s largest-ever foreign takeover, as part of a series of meetings with shareholders.

His efforts come as Shire faces new competitors to its haemophilia drugs, including a new product by Swiss firm Roche which is on track to be approved by US authorities.

Weber, who has led Takeda since 2014, told the Financial Times he had examined rivals before launching the takeover bid earlier this year and was ‘very comfortable’.