Mon, Jan. 12, 1:50 AM
- Shire (NASDAQ:SHPG) is buying NPS Pharmaceuticals (NASDAQ:NPSP), a maker of treatments for rare diseases, for $5.2B ($46 per share), a 51% premium to its share price on December 16, before rumors of the deal first surfaced.
- The all-cash acquisition comes just three months after Shire’s proposed $54B sale to AbbVie (NYSE:ABBV) collapsed as a consequence of U.S. government efforts to limit tax-inversions. Shire received a $1.6B breakup fee after AbbVie walked away.
- Previously: NPS Pharma up 20% on takeover buzz (Dec. 17 2014)
Tue, Jan. 6, 3:52 PM
- NPS Pharmaceuticals (NPSP +7.6%) moves up on a 2.5x surge in volume. Investors' interest has been stoked after the Wall Street Journal reported that Goldman Sachs was putting feelers out about a possible acquisition. Shire plc is one candidate in light of its failed marriage with AbbVie.
- Separately, the extended PDUFA date for the FDA's review of the company's BLA for Natpara for the treatment of hypoparathyroidism is January 24. Since this is a Saturday, the agency may issue its decision on Friday the 23rd. On September 12, the FDA's Endocrinologic and Metabolic Drugs Advisory Committee voted 8-5 in favor of approval.
- Previously: FDA extends Natpara PDUFA date (Oct. 23, 2014)
- Previously: Positive Ad Comm vote for Natpara (Sept. 12, 2014)
Dec. 17, 2014, 11:21 AM
Oct. 19, 2014, 9:49 AM| 2 Comments
Jun. 5, 2014, 9:19 AM
- Analysts say that Shire's (SHPG) attractive pipeline and tax inversion-stoking location make it a prime acquisition target. For example, Allergan (AGN) approached the company in April about a potential deal. Its best defense against an unwanted takeover may be to go on the offensive and make an acquisition itself. This would seem to be a good strategy since CEO Flemming Ornskov likes to acquire. He has presided over at least six acquisitions since taking the helm.
- Cenkos Securities' Navid Malik perceives that Sarepta Therapeutics (SRPT), Prosensa (RNA) and ThromboGenics are attractive targets. So is NPS Pharmaceuticals (NPSP), but its CEO says the two firms aren't talking.
Jun. 2, 2014, 7:10 PM
Jun. 2, 2014, 6:04 PM
- NPS Pharma (NPSP) says it "has not had any communication with Shire (SHPG) or any representative of Shire concerning the acquisition of NPS by Shire," and calls media reports to the contrary "erroneous." (8-K)
- Shares -2% AH. They jumped on Friday on rumors Shire is prepping a $40/share bid, and soared again in premarket trading today following a report Shire has secured $5B in financing. NPS finished regular trading up a relatively modest 4.7%.
Jun. 2, 2014, 7:40 AM
May. 30, 2014, 11:15 AM
Mar. 19, 2013, 8:18 AMNPS Pharmaceuticals (NPSP) has bought back the none-North American rights to two drugs from Takeda for $50M in shares and possible milestone payments, giving NPS with full global rights to the treatments. The drugs are Revestive (Gattex in the U.S.), a medicine for short bowel syndrome, and Preotact, a thyroid hormone replacement therapy. (PR) | Comment!
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