11 December it was announced that the British pharmaceutical company Shire plc acquires US biotech company NPS Pharmaceuticals Inc. for $ 5.2 billion. The transaction will strengthen the position of the Anglo-Irish company to a very promising market for the treatment of rare diseases and strengthen the company’s image is staggered because of a failed attempt to merge with American AbbVie.
On Sunday night, the Anglo-Irish Shire pol and the US NPS Pharmaceuticals Inc. issued a joint message that the companies have agreed to a deal in which Shire buys all of the outstanding shares of NPS for $ 46 per share. In total, Shire US company will pay for about $ 5.2 billion in cash. The transaction was unanimously approved by the boards of directors of both companies, should be even permitted by relevant American, British and European regulators and shareholders of both companies. Close the deal is expected in the first quarter of this year.
The company Shire – the third largest producer of medicines in the UK – has long been looking for opportunities to strengthen its position in the market and provide a more or less secure future . The last such attempt was made last year, when the company agreed to merge with American AbbVie.
However, that deal is estimated at $ 53.7 billion, did not take place: American company that besides the obvious market prospects expected also notable tax advantages due to the transition to the Irish jurisdiction, refused the deal after the US authorities, fearful of a wave of so-called inversive transactions of US companies began to adopt rules that make them unprofitable.
Left without a partner, Shire immediately began searching for a new, which ultimately ended the current transaction. By the way, part of the deal will actually paid AbbVie, which had to pay Anglo-Irish company liquidated damages in the amount of £ 1 billion.
As a result of the merger Shire significantly strengthens its position in those sectors of the market, in which the NPS is traditionally strong. It is primarily the means for the treatment of serious diseases of the gastrointestinal tract, as well as drugs to treat rare diseases. In particular, the company has access to the drug Gattex (for the treatment of short bowel syndrome) and drug Natpara, for the treatment of hypoparathyroidism. The first has already successfully sold (sales last year amounted to nearly $ 70 million), the second is awaiting approval in the United States. According to experts from FirstWord Pharma, the total sales of the two drugs in 2019 will be $ 1.04 billion.
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