Pharmaceutical & Life Sciences News

Takeda Slumps Most Since 2009 on Downgrade, Index Shifts (2)

Dec. 18, 2018, 2:47 PM

Takeda Pharmaceutical Co. shares tumbled the most in almost a decade after Moody’s Investors Service cut the drugmaker’s credit rating and investors reacted to adjustments in equities indexes related to its $62 billion acquisition of Shire Plc.

Investors may be shifting their positions on the two drugmakers after index providers in London and Tokyo announced details of how their gauges will reflect the impact of Shire merging into Takeda. The FTSE Russell and MSCI said they would remove Shire from their indexes and increase Takeda’s weighting in late December, while the Tokyo Stock Exchange will raise Takeda’s weight in...

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