LONDON, Oct 20 (APM) - Shire is set to swoop on a U.S. rival following the apparent collapse of AbbVie's $54 billion takeover of the Dublin-based pharma, it is suggested in the UK press.
The Sunday Times reported Shire is interested in rare diseases specialist NPS and Cubist, which makes a treatment for the 'superbug' meticillin-resistant staphylococcus aureusis (MRSA).
Its warchest is likely to swell by $1.65 billion from a break fee it agreed with AbbVie in the event of the takeover not going ahead. In its third-quarter results' announcement due on Friday, Shire is likely to confirm its board no longer expects the AbbVie takeover to go through.
The paper said NPS, based in New Jersey, has a stock market value of $2.8 billion, while Cubist, based in Lexington, Massachusetts, is worth $4.8 billion.
Flemming Ornskov, who became Shire's chief executive 18 months ago, has made no secret of his desire to do deals, the paper said.
It quoted him in June as saying: "I have been significantly in the market for assets that would strengthen our growth and strengthen our pipeline. If I am given leeway, there are a few phone numbers I can execute on immediately."
It said Orsnskov has pledged to double Shire's sales by 2020. The Sunday Times said some analysts have also tipped Salix as a potential takeover target.
Salix, based in North Carolina, develops drugs and medical devices that prevent and treat gastrointestinal disorders (APMMA 39952). It scrapped its plans for a $2.7 billion so-called tax inversion deal with Cosmo Pharmaceuticals this month, blaming the "political environment" for its decision, the paper added.
nh/ns
TRY APM Market Access AND GET ACCESS TO THE FULL CONTENT
Interviews with KOLs/senior executives amongst the Regulators, Payers, Health, Medical & Pharmaceutical organisations
Events coverage with a unique focus on Market Access & sustainability of healthcare systems
6 European bureaus : Berlin, Brussels, London, Madrid, Milan & Paris
Ask for a Free trial and get access to the latest stories
Our coverage includes:
- Health Care
- Market Access
- HTA – policies & practices
- European medicine regulations
- Drug safety issues
- Pricing & Reimbursement
- International medicines agencies
If you are a Payer, Pharmaceutical or Consulting professional our premium data will keep you informed on the regulatory, pricing, market access and cost-effectiveness issues that impact all stakeholders.
REQUEST
an initial 10 day temporary access of APM Market Access.
