Takeda Pharmaceuticals Co Ltd has proposed selling a Shire Plc (LON:SHP) drug in development to ease competition concerns as part of its bid to gain regulatory approval in Europe for the merger of the two companies.
The Japanese company said it had proposed to European Union regulators divesting Shire's pipeline compound SHP647 along with some associated rights due to worries about an overlap in inflammatory bowel disease treatments and its own drug Entyvio.
SHP647 is currently in Phase III clinical trials.
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Takeda said it was the only issue it was discussing with the EU but did not expect it to delay the closing of the takeover of Shire.
It has already received clearances in the US, Brazil, China and Japan for the US$62bn deal to buy Shire.
The deal is expected to close in the first half of 2019.
Shares rose 2.2% to 4,498p in morning trading.