Shire increasingly vulnerable to takeover attempts by big pharma companies

British daily Evening Standard reported today the news – which has been circulating in the last days – that Shire has become an acquisition target for big pharma companies. The Ireland-based group lost over 10% of market capitalization over the last 12 months (GBP39bn) and some major drugmakers reportedly stepped forward in the hope to acquire the group at an affordable price. CEO Flemming Ornskov is said to have already hired some advisors with the task of developing a defense strategy. Shire is a fairly interesting target, due to its rich pipeline in high-profit treatment businesses, such as ADHD and haemophilia. Shire was about to be acquired by US-based AbbVie already in 2014 for GBP32bn. AbbVie was confident it would benefit from “tax inversion”, yet the acquisition process was interrupted due to a change in fiscal legislation.
(Source: Evening Standard)