Canada's Valeant Pharmaceuticals International Inc.
Shire PLC
Breaking News
Shire Plc has agreed to buy NPS Pharmaceuticals Inc for $5.2 billion in its biggest acquisition yet, as the Dublin-based drugmaker strengthens its position in the lucrative field of medicines for rare diseases.
Hedge fund Elliott Associates may take legal action against pharmaceuticals company AbbVie Inc for scuttling a merger deal with Shire Plc.
AbbVie Inc (ABBV.N) said it intends to reconsider its recommendation to its shareholders to vote in favor of the 32 billion pound ($54.7 billion) merger with Shire Plc (SHP.L) due to the changing U.S. tax regulations.
The USD4.2 billion purchase by Shire Plc of ViroPharma Inc is the highest purchase on EBITDA rates for a biotechnology firm in history, as the price is 58 times EBITDA.
ViroPharma had attracted interested suitors including Sanofi and Shire Plc. as it started working with Goldman Sachs Group for a possible sale.
Shire Plc (SHP) pulled off a settlement agreement with Teva Pharmaceutical Industries Ltd. (TEVA), enabling the later to manufacture cheap generic copies of Intuniv.
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