Asian drugmakers hunt Western rivals after Takeda

TOKYO -- Takeda Pharmaceutical is pushing into the ranks of multinational drug giants with its deal for Irish peer Shire. But the 46 billion pound ($62 billion) purchase is not just about one company's ambition. It is emblematic of a larger trend, in which Asian drugmakers are throwing their weight around in the global mergers and acquisitions game.

Besides Takeda's move, which stands to be the largest overseas acquisition by a Japanese company, two Asian players are pursuing the dermatology business of Swiss company Novartis. Indian generic drug producer Aurobindo Pharma is one. And on May 11, Bloomberg and other media outlets reported that China's Shanghai Fosun Pharmaceutical Group plans to submit a bid. The price is expected to reach $2 billion.