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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Takeda Pharmaceutical Company Limited    4502   JP3463000004

TAKEDA PHARMACEUTICAL COMPANY LIMITED

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Takeda Pharmaceutical : EU says Johnson & Johnson's deal for Takeda patch may harm competition

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03/25/2020 | 10:55am EDT
FILE PHOTO: The company logo for Johnson & Johnson is displayed on a screen to celebrate the 75th anniversary of the company's listing at the NYSE in New York

EU antitrust regulators have opened a full investigation into Johnson & Johnson's acquisition of Takeda Pharmaceutical's surgical patch product TachoSil, concerned that the deal could lead to reduced choice and higher prices for customers.

Takeda, Japan's biggest drugmaker, announced the sale of TachoSil, a surgical patch for bleeding control, to U.S. giant Johnson & Johnson's subsidiary Ethicon for $400 million (342 million pounds) last May.

The European Commission said a preliminary investigation found cause for concern because TachoSil is the market leader in Europe. Johnson & Johnson is also a major maker of surgical patches globally although it does not sell such dual patches in Europe.

The EU competition enforcer said high development costs meant rivals would find it difficult to enter the market.

"In this concentrated space, we need to carefully assess whether the proposed merger would lead to reduced choice for surgeons and patients, to higher prices for our health services, or to slower development of alternative solutions to manage problematic bleeding," European Competition Commissioner Margrethe Vestager said in a statement.

The Commission set an Aug. 10 deadline for its decision on the deal.

By Foo Yun Chee

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Financials (JPY)
Sales 2020 3 318 B
EBIT 2020 37 690 M
Net income 2020 -149 736 M
Debt 2020 3 996 B
Yield 2020 5,19%
P/E ratio 2020 -36,2x
P/E ratio 2021 33,0x
EV / Sales2020 2,83x
EV / Sales2021 2,73x
Capitalization 5 407 B
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Mean consensus BUY
Number of Analysts 15
Average target price 5 533,57  JPY
Last Close Price 3 471,00  JPY
Spread / Highest target 110%
Spread / Average Target 59,4%
Spread / Lowest Target 18,1%
EPS Revisions
Managers
NameTitle
Christophe Weber President, CEO & Representative Director
Constantine Saroukos Chief Financial Officer & Director
Andrew S. Plump Director, Research & Development President
Yasuhiko Yamanaka Director
Masato Iwasaki Director & President-Japan Pharma Business Unit
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