Shire’s proposal to acquire Baxalta for around $32 billion and create “the global leader in rare diseases” has now been approved by both sets of shareholders.
Earlier this year the firms announced a definitive merger agreement giving Baxalta shareholders $18.00 in cash and either 0.1482 Shire ADSs or 0.4446 Shire Ordinary shares per Baxalta share.
According to the firms, the marriage will create the number one rare diseases platform in revenue and pipeline depth, which is predicted to generate annual sales of more than $20 billion by 2020.
The combined portfolio will house more than 60 programs in development, including over 50 that will address rare diseases, and Shire anticipates more than 30 recent and planned product launches from the combined pipeline, contributing around $5 billion in annual revenues by 2020.
“The combination will allow us to realise our goal of building the leading global biotechnology company focused on rare diseases and other highly specialized conditions, offering greater opportunities for our patients, healthcare partners and employees,” noted Shire’s chief executive, Flemming Ornskov.
The transaction is now expected to close in June 3.
By Selina McKee
Source: Pharma Times
The Food and Drug Administration’s top scientist Namandjé Bumpus will assume the role of principal deputy commissioner when longtime agency leader Janet Woodcock retires from that role in early 2024, according to an announcement Thursday.
US biopharma AbbVie has agreed to acquire ImmunoGen in a deal which values the company at about $10.1 billion and gives AbbVie access to flagship cancer therapy Elahere (mirvetuximab soravtansine-gynx), a first-in-class antibody-drug conjugate (ADC) approved for platinum-resistant ovarian cancer (PROC), as well as a pipeline of promising next-generation ADCs.
EUROAPI today announced the appointment of David Seignolle as Chief Operating Officer, succeeding Eric Berger, and Marion Santin as Chief Legal, Compliance, and IP Officer, both joining the company’s Executive Committee. In his new role, David Seignolle will lead the transformation of the Industrial Operations organization.