Takeda proposes sale of Shire drug to gain European approval

(Reuters) - Takeda Pharmaceutical Co Ltd <4502.T> has proposed to European regulators it could sell a Shire <SHP.L> treatment in development due to concerns of overlap in inflammatory bowel disease treatments and its own drug Entyvio as it seeks clearance for the two companies' merger.

The Japanese drug developer said it had proposed divesting Shire's pipeline compound SHP647, which is currently in Phase III clinical trials, along with some associated rights.

It said it did not expect the issue to delay its closing of the takeover of Shire and was the only issue it was discussing with European Union regulators after receiving approvals in China and Japan for the deal.

(Reporting by Arathy S Nair in Bengaluru)