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Shire PLC (SHPG)

  • Fri, Aug. 28, 3:37 PM
    • Ariad Pharmaceuticals (ARIA +39.7%) extend earlier sharp gains as Bloomberg confirms Baxalta (BXLT -3.5%) is in talks to acquire the company in an effort to boost its oncology business, as the market had speculated earlier this afternoon.
    • It is unclear how any deal by BXLT would affect Shire’s (SHPG +1.6%) $30B takeover offer for the company.
    • Also, CNBC reports ARIA rejected an initial bid from BXLT a month ago, and that ARIA is close to naming a CEO.
    | Fri, Aug. 28, 3:37 PM | 17 Comments
  • Fri, Aug. 28, 1:02 PM
    • Baxalta (BXLT -4.8%), which is attempting to fend off a $30B takeover offer from Shire (SHPG +0.2%), is in talks to make an acquisition of its own to bolster its status as an independent company, according to a Bloomberg report.
    • BXLT is said to be working with bankers on the acquisition of a U.S.-based hematology-oncology specialist valued at ~$2B; the report does not identify the target, but Ariad Pharmaceuticals (ARIA +16.9%) is shooting higher on speculation that it is the unnamed company.
    • Since SHPG went public with its takeover proposal, BXLT management has sought to paint the suitor as trying to buy it cheaply.
    | Fri, Aug. 28, 1:02 PM | 16 Comments
  • Thu, Aug. 13, 10:00 AM
    • According to sources close the matter, Baxalta (BXLT +0.9%) wants Shire (SHPG -1.4%) to significantly sweeten its $30B offer before it returns to the negotiating table. Shire will consider doing so if it can examine Baxalta's books.
    • Shire says that arguments about the industrial logic of the deal are close to being settled after it met with major shareholders on both sides. Efforts are now centered on identifying a mutually acceptable price.
    • Shire wants to acquire Baxalta, a developer of biotech treatments for rare blood disorders, to create a world leader in rare diseases. The combined firms would generate over $20B in revenues per year by 2020.
    | Thu, Aug. 13, 10:00 AM | 5 Comments
  • Tue, Aug. 11, 2:38 AM
    • Shire (NASDAQ:SHPG) Chief Executive Flemming Ornskov is stepping up his campaign to get Baxalta (NYSE:BXLT) to the negotiating table as he pushes the benefits of a $30B takeover bid to the biotech company's shareholders.
    • In response, Baxalta has intensified its opposition to the approach. Speaking on a call with investors yesterday, CEO Ludwig Hantson said there was no reason to negotiate with Shire based on its current offer, as the company faces strong growth prospects as a standalone group.
    | Tue, Aug. 11, 2:38 AM | 5 Comments
  • Tue, Aug. 4, 5:22 PM
    • Although Baxalta (NYSE:BXLT) lacks conviction that a merger with Shire (NASDAQ:SHPG) will produce value-creating synergies, some analysts are, predictably, bullish on its benefits.
    • The team at Jefferies believes the transaction will create immediate shareholder value while accelerating growth plans for both firms. It projects combined revenues of $20B by 2020 from a global leader in rare diseases. The team appears confident that a merger will happen considering that Shire is willing to go hostile in order to close the deal.
    • Cowen's team also likes the marriage, although it admits that Baxalta's portfolio in "not perfect." Nevertheless, it believes that it will continue to grow and have significant duration. It also believes that the combined organization will generate sufficient cash flows that can be used to acquire additional orphan assets, including hematology and oncology.
    | Tue, Aug. 4, 5:22 PM | Comment!
  • Tue, Aug. 4, 3:56 PM
    • Unsurprisingly, Baxalta (BXLT +14%) formally rejects Shire's (SHPG -5.3%) $30B bid saying it "significantly undervalues Baxalta and its attractive prospects for growth."
    • Update: According to a statement Baxalta just released, Shire's all-stock offer was 0.1687 of a Shire ADR per Baxalta share. It received the bid privately on July 10.
    • Previously: Baxalta up 19% premarket on news of $30B Shire bid (Aug. 4)
    | Tue, Aug. 4, 3:56 PM | 10 Comments
  • Tue, Aug. 4, 7:46 AM
    • Shire plc (NASDAQ:SHPG) discloses that it made a proposal to Baxter (NYSE:BAX) spin-off Baxalta (NYSE:BXLT) to combine the firms in an all-stock transaction valued at $30B or $45.23 per share. Baxalta had previously declined to enter into discussions with Shire about a potential merger.
    • Update: BXLT up 19% premarket on robust volume. SHPG down 4% on high volume.
    | Tue, Aug. 4, 7:46 AM | 17 Comments
  • Mon, Aug. 3, 6:43 AM
    • Shire plc (NASDAQ:SHPG) acquires New York, NY-based Foresight Biotherapeutics for $300M in cash. The privately-held biotech's lead product candidate, FST-100, is an eye drop to treat both bacterial and viral conjunctivitis or pink eye. Currently available antibiotics only treat the bacterial form.
    • A Phase 2 trial assessing FST-100 in viral conjunctivitis showed promising results. Shire intends to conduct a Phase 3 study to evaluate the product candidate in both forms of the infection. If all goes well, market approval could happen in 2019. If cleared, it will be the first all-encompassing treatment on the market.
    • According to Shire, the deal is a good fit with its dry-eye product candidate lifitegrast because the same physicians will prescribe both drugs. Conjunctivitis strikes more than 11M people in the U.S. and Europe each year. In the U.S., antibiotics to treat the bacterial form of the condition represent a $500M market.
    | Mon, Aug. 3, 6:43 AM | Comment!
  • Thu, Jun. 11, 7:59 AM
    • RBC Capital Markets' Michael Yee says (NASDAQ:DYAX) would be a juicy acquisition for the likes of Sanofi (NYSE:SNY), Alexion Pharmaceuticals (NASDAQ:ALXN) or BioMarin Pharmaceutical (NASDAQ:BMRN). He thinks the takeout price could be as high as $39 per share or 59% above yesterday's close of $24.53.
    • Dyax's allure pertains to its investigational drug for hereditary angioedema (HAE), Fast Track-designated DX-2930, which has performed well in early-stage studies. The only approved therapy for HAE is Shire's (NASDAQ:SHPG) Cinryze [C1 esterase inhibitor (human)] which costs as much as $630K per year. Its on track to be Shire's #2 seller in two years.
    • Previously: Dyax +39.1% on positive DX-2930 trial results (March 31)
    • Previously: Dyax scores Orphan designation for HAE treatment (Dec. 5, 2013)
    | Thu, Jun. 11, 7:59 AM | Comment!
  • Sun, Jun. 7, 4:55 PM
    | Sun, Jun. 7, 4:55 PM | Comment!
  • 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)
    | Mon, Mar. 30, 1:03 PM | Comment!
  • 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).
    | Fri, Mar. 27, 4:16 PM | 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.
    | Wed, Feb. 25, 3:28 PM | 1 Comment
  • Tue, Feb. 24, 8:58 AM
    | 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)
    | Mon, Feb. 23, 12:32 PM | 2 Comments
  • 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.
    | Sun, Feb. 22, 6:53 AM | Comment!
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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.