NEW YORK--(BUSINESS WIRE)--OrbiMed Advisors LLC (“OrbiMed”) has evaluated the proxy voting recommendations from both Institutional Shareholder Services Inc. (“ISS”) and the management of Takeda Pharmaceutical Company Ltd. (“Takeda” or the “Company”) ahead of the 143rd Ordinary General Meeting of Shareholders that will take place on June 27, 2019, in Yokohama, Japan.
After careful consideration, OrbiMed believes that the collective recommendations by Takeda on all eight outstanding proposals represents the superior path toward improving the Company’s business and maximizing shareholder value. Of particular note, OrbiMed supports the re-election of CEO Christophe Weber, Chief Executive Officer of Takeda, as Representative Director of the Board (as portion of the second proposal). OrbiMed views Mr. Weber as the key strategic architect behind the acquisition of Shire PLC and believe his involvement will be crucial for the integration, implementation, and execution of the new Takeda going forward. Accordingly, OrbiMed has voted congruently with the Company’s recommendations on all eight proposals.
OrbiMed’s clients have substantial holdings of Takeda securities, totaling 8,711,400 shares of common stock and 750,000 shares of American depositary receipts.