Takeda Pharmaceutical has cleared a hurdle for its $62bn (€53bn) acquisition of Shire, receiving unconditional approval from the US Federal Trade Commission two months after sealing its biggest deal ever.

The Irish operations of international drug firm, Shire, will be reviewed within the first year of new ownership, should Japan’s Takeda Pharmaceutical buy it.

Japan’s largest drugmaker Takeda is considering a bid for Shire that could top $40bn (€32.2bn) and spark another takeover battle in the deal-hungry pharma industry.

Shares in Irish pharmaceutical giant Shire surged after Japan's Takeda said it is considering making a takeover approach for the €37.5bn valued firm.