BioCentury
ARTICLE | Finance

Takeda’s math problem

Why a winning bid for Shire could be a Pyrrhic victory for Takeda

April 21, 2018 12:44 AM UTC

A hefty net debt load of $18.8 billion for Shire plc (LSE:SHP; NASDAQ:SHPG) means Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) is having to pick its poison to reach a deal.

The Japanese pharma is grappling with giving away more than half its company to Shire’s investors, or pushing its postmerger debt levels to potentially dangerous heights...