Takeda Pharmaceutical Company Ltd. is considering making an approach to Shire, a Dublin, Ireland, headquartered pharmaceutical company, regarding a possible offer for the company. In a statement, Takeda said such consideration is at a preliminary and exploratory stage and that no approach has been made to the board of Shire. It added that there is no certainty that such an approach, if made, would lead to any transaction.

Shire, which has focus on rare diseases, acquired Baxalta in 2016 for $32 billion. Baxalta was spun off from Baxter as a stand-alone biopharmaceutical company in 2015.

Takeda said that it continuously considers options for accelerating growth, which includes options in its prioritized therapeutic areas of gastroenterology, oncology, and neuroscience. Takeda said that a possible acquisition of Shire would enhance its position in those areas as well as a provide a rare-disease product franchise, reinforce its large-molecule-focused late-stage pipeline within Takeda’s core therapeutic areas, and provide further market opportunities in the US.

Under UK takeover rules, Takeda has until April 25, 2018 to either announce a firm intention to make an offer for Shire, subject to conditions or pre-conditions, as relevant, or that it does not intend to make an offer. Shire is headquartered in Dublin, Ireland, but is registered officially in the Bailiwick of Jersey, a British Crown dependency and part of the British Isles.

Editors Note: This article was updated on April 20, 2018 to reflect Shire’s rejection of Takeda’s bids. 

Source: Takeda Pharmaceutical Company Ltd.