The European Commission has approved the takeover of the Ireland-based pharmaceutical company Shire by Japan-based rival Takeda, subject to certain conditions.
The takeover can go ahead only if Shire sells assets on a treatment it is developing for inflammatory bowel disease to a company other than Takeda, the Commission said on 20 November.
Competition commissioner Margrethe Vestager said in a statement that inflammatory bowel disease was a devastating condition for which there were only a few effective treatments, and that it was essential for companies to continue developing promising treatments for it.
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