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Shire PLC (SHPG)

  • Mon, Mar. 30, 1:03 PM
    • According to Bloomberg, privately-held Rome-based drug firm Sigma-Tau Group is attracting interest from prospective bidders for its rare diseases business. The unit, valued as high as $1B, could be nice fit with Jazz Pharmaceuticals (JAZZ -0.3%) or Shire plc (SHPG -1%). Last year, Jazz acquired the rights to Sigma-Tau's defibrotide in the Americas for as much as $250M. No formal negotiations are underway, though, and the Cavazza family that owns the business may choose not to sell.
    • Sigma-Tau, founded in 1957, generated sales of €697M ($757M) in 2013, with the rare diseases unit contributing €165M. The 220-employee unit focuses on blood diseases and cancer.
    • Previously: Jazz kicks off Fast Track review process for VOD med (Dec. 12, 2014)
    • Previously: Jazz secures rights to defibrotide in the Americas (July 2, 2014)
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  • Fri, Mar. 27, 4:16 PM
    • Brean Capital's Difei Yang says small cap Hyperion Therapeutics (NASDAQ:HPTX) should be on the acquisition radar considering Big Pharma's appetite for rare disease players. The company's revenues are generated by two products, Ravicti (glycerol phenylbutyrate) and Buphenyl (sodium phenylbutyrate), that treat urea cycle disorders, inherited metabolic diseases caused by a deficiency in one of the enzymes or transporters in the urea cycle. Elevated ammonia, a consequence of the failure to convert ammonia to urea, can have serious consequences, such as brain damage, coma and even death.
    • Mr. Yang estimates that the company's takeout price at $60 per share. He lists Shire plc (NASDAQ:SHPG), Valeant Pharmaceuticals (NYSE:VRX), and Endo International (NASDAQ:ENDP) as potential suitors. HPTX closed today at just under $43.
    • The company booked ~$114M in revenues last year but took a loss of ($6.3M).
    | 1 Comment
  • Wed, Feb. 25, 3:28 PM
    • Shire plc (SHPG +3%) completes its acquisition on NPS Pharmaceuticals (NASDAQ:NPSP). As of midnight, February 20, 81.7% of NPSP shares had been tendered.
    | 1 Comment
  • Tue, Feb. 24, 8:58 AM
    | 1 Comment
  • Mon, Feb. 23, 12:32 PM
    • Orphan drug developer PTC Therapeutics (PTCT +16.1%) is exploring selling itself amid rumors of interest from Shire plc (SHPG +1.9%) and BioMarin Pharmaceuticals (BMRN +1.8%).
    • PTC's lead product candidate is Translarna (ataluren) for the treatment of patients with genetic disorders due to a nonsense mutation. It is in clinical development for Duchenne muscular dystrophy (DMD) caused by a nonsense mutation (nmDMD) and cystic fibrosis caused by a nonsense mutation (mnCF). The FDA designated it an Orphan Drug for both indications.
    • The company's market cap is $2.2B while DMD competitor Sarepta Therapeutics is valued at $637M. BioMarin gobbled up the other DMD player, Prosensa Holding N.V. in November for $680M plus milestones.
    • Previously: BioMarin buys Prosensa (Nov. 24, 2014)
  • Sun, Feb. 22, 6:53 AM
    • Valeant Pharmaceuticals (NYSE:VRX) has agreed to buy Salix Pharmaceuticals (NASDAQ:SLXP) for about $10.1B, or $158 per share in cash, Bloomberg reports.
    • Two other drugmakers were rumored to be on the hunt for Salix prior to the newly reported deal, including Endo International (NASDAQ:ENDP) and Shire (NASDAQ:SHPG).
    • On Friday, Salix shares rose $7.11 to $157.85, almost completely eliminating any premium in the purchase price.
    • Separately, Valeant received approval to buy the assets of bankrupt Dendreon (OTCPK:DNDNQ) for $495M. Dendreon is best known for its prostate cancer vaccine, Provenge.
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  • Mon, Feb. 16, 5:50 PM
    • A person close to the matter says Endo International (NASDAQ:ENDP) is and has been interested in acquiring Salix Pharmaceuticals (NASDAQ:SLXP). It has apparently sent Salix several letters stating its interest in a transaction, but Salix has yet to respond.
    • Valeant Pharmaceuticals (NYSE:VRX) and Shire (NASDAQ:SHPG) are also rumored to be in hunt for the maker of products that treat gastrointestinal disorders.
    • Previously: Valeant close to a bid for Salix (Feb. 12)
    • Previously: Shire now on the hunt for Salix (Feb. 13)
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  • Fri, Feb. 13, 1:58 AM
    • Not only is Valeant Pharmaceuticals (NYSE:VRX) reportedly prepping a bid for Salix Pharmaceuticals (NASDAQ:SLXP), but Shire (NASDAQ:SHPG) is now rumored to be preparing an offer.
    • Shire has taken initial steps towards a bid and is evaluating how to secure financing, sources told Reuters.
    • Yesterday, Valeant Pharmaceuticals was reported to be arranging financing for a takeout of Salix at a likely price of more than $150 per share. Including net debt, Salix is valued at almost $11B.
    • Previously: Valeant close to a bid for Salix (Feb. 12 2015)
    • SLXP +1.2% premarket
    | 1 Comment
  • Wed, Jan. 14, 9:42 AM
    • In an all-stock transaction, privately-held Tobira Therapeutics will merge with a wholly-owned subsidiary of Regado Biosciences (RGDO +59.3%). The combined organization, renamed as Tobira Therapeutics, will focus on the development of novel treatments for liver and inflammatory diseases. Tobira CEO Laurent Fischer, M.D., will lead the firm.
    • Tobira's lead product is cenicriviroc (CVC), a Fast Track-designated anti-fibrotic agent currently in Phase 2 development for non-alcoholic steatohepatitis (NASH).
    • A Tobira investor syndicate has committed to invest up to $22M to fund CVC's development through Phase 2. Tobira's quick asset balance will be ~$60M after the investment.
    • Under the terms of the merger, Regado shareholders will own ~32% of the combined entity while Tobira shareholders will own ~68%. The specific allocation will depend on Regado's net cash balance at the time of the transaction.
  • 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)
    | 1 Comment
  • Dec. 17, 2014, 11:21 AM
    • NPS Pharmaceuticals (NPSP +21.3%) jumps on increased volume in response to market chatter that Shire plc (SHPG +2.5%) is mulling a bid for the rare disease therapeutics developer.
  • Oct. 20, 2014, 5:35 PM
  • Oct. 20, 2014, 12:43 PM
    • The collapse of Abbvie's (ABBV +0.6%) planned takeover of Shire plc (SHPG +2.4%) opens a door for Allergan (AGN +2%) to fend off the hostile bid from Valeant (VRX +2.2%). Institutional shareholder Paulson & Co., which owns stakes in both firms, favors the marriage.
    • Allergan CEO David Pyott received a call from Shire last week. If a deal gets done it will make Allergan too expensive for Valeant to acquire. The chances of a deal appear reasonable. Allergan contacted Shire about a combination some time ago.
  • Oct. 19, 2014, 9:49 AM
    • Shire (NASDAQ:SHPG) may look to acquire an American rival after AbbVie pulled its proposed $55B takeover.
    • Possible targets include rare diseases specialist NPS Pharma (NASDAQ:NPSP) and Cubist Pharma (NASDAQ:CBST), which makes a treatment for superbug MRSA.
    • Source: Sunday Times
  • Oct. 16, 2014, 7:14 AM
    • Abbvie's (NYSE:ABBV) Board of Directors recommends that shareholders vote against its proposed ₤32.5B takeover of Shire plc (NASDAQ:SHPG) due to the change in tax rules that no longer justifies the transaction. The deal is dead.
    • Shire was down 8% at around noon in London trading after it lost 22% yesterday. This morning in the U.S. it is up 2% premarket on turnover of 128K shares.
  • Oct. 14, 2014, 9:57 PM
    • Score one for the U.S. Treasury whose new rules aimed at discouraging tax inversion deals may have put a halt to the planned purchase of Shire (NASDAQ:SHPG) by AbbVie (NYSE:ABBV). The AbbVie board has not yet withdrawn or modified its recommendation that shareholders approve the merger, but it has notified Shire of its intention to reconsider.
    • “AbbVie’s board will consider, among other things, the impact of the U.S. Department of Treasury’s proposed unilateral changes to the tax regulations announced on September 22, 2014, including the impact to the fundamental financial benefits of the transaction."
    • ABBV -2.1%, SHPG -8% in after-hours trade
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Company Description
Shire PLC is a specialty biopharmaceutical company that focuses on developing and marketingspecialty medicines that address unmet patient needs.