Shire is reportedly in advanced talks to acquire Baxter’s biopharma spin-off Baxalta and may announce a deal this week.
According to Bloomberg, sources familiar with the matter have said that the Irish firm could buy Baxalta for $32 billion, or $46.50-$48 a share. The deal is expected to contain a cash component.
After Baxalta’s management rejected an initial bid, Shire went public with a $30 billion unsolicited offer in August 2015, only a month after Baxalta was spun off from Baxter.
After shareholders agreed with the board that this offer was too low, rumours swelled in November that Shire was looking to make a second approach and had asked its advisers to construct a new deal.
Flemming Ornskov, chief executive officer of Shire, has said that the companies could deliver $20 billion in product sales by 2020.
By George Underwood
Source: Pharma Times
Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.
GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.
Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.
