Mubasher: Takeda Pharmaceutical Company, the largest pharmaceutical company in Japan and Asia, on Thursday announced that it has received the Japanese Fair Trade Commission for completing the acquisition of Shire Plc.

The transaction’s total cost amounted to $62 billion, according to Takeda’s statement.

By obtaining the approval, Takeda will be the largest overseas purchase by a Japanese company, making it among the world’s top 10 drugmakers.

The acquisition remains subject to certain other conditions, including receipt of the remaining regulatory clearances and approval by the shareholders of both companies.

“Takeda is proud of its Japanese heritage, and we are looking forward to building on this heritage as a combined company to continue delivering highly-innovative medicines that are transformative to patients in Japan and around the world,” Christophe Weber, Takeda’s CEO, said.

It is worth noting that Takeda operates in the healthcare sector in more than 70 countries across the world.