- Shire (SHPG) has agreed to acquire ViroPharma (VPHM) for $4.2B in a deal that will fit into the U.K. company's strategy of expanding its rare-disease portfolio and create a revenue base in the area of $2B.
- ViroPharma provides the treatment Cinryze for the prophylactic treatment of hereditary angioedema (HAE), which is when the deeper layers of the skin swell due to a build-up of fluid. Shire said Cinryze will complement its Firazyr injection for acute HAE.
- Shire will pay $50 a share for ViroPharma, or a 27% premium on Friday's closing price of $39.38.
- Shire expects annual cost synergies of around $150M by 2015, and that the deal will immediately add to its earnings after completion.
- Shire will finance the deal from its cash resources, as well as from existing and new bank facilities. (PR)
Shire to acquire ViroPharma for $4.2B
Nov 11 2013, 02:36 ET