Sector News

Shire and Baxalta near deal

January 4, 2016
Life sciences

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 

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