German China India

Japan/USA: Takeover Flurry in Pharmaceuticals

Shire Turns Down 60 Billion Dollar Takeover Bid from Takeda

| Editor: Alexander Stark

Shire said it has turned down repeated takeover offers from Takeda Pharmaceutical
Shire said it has turned down repeated takeover offers from Takeda Pharmaceutical (Source: Bloomberg)

Related Companies

Shire announced that it has turned down repeated takeover offers from Takeda Pharmaceutical. The latest offer amounted to about $ 60 billion. According to the company, the two sides were in talks about another “more attractive” transaction.

Lexington/USA (Bloomberg) — Takeda said it offered $ 66.16 a share in cash and stock last week for Shire in a bid to extend its global reach. The US company’s board and its advisers found the offers “significantly undervalue the company and Shire’s growth prospects and pipeline.”

Takeda has been ramping up its takeover ambitions under Chief Executive Officer Christophe Weber, as the company seeks growth overseas amid patent expirations and a shrinking domestic population. Shire would bring new assets in gastrointestinal diseases and nervous-system ailments, and key treatments in the late stages of testing.

Shire was responding to a statement earlier Thursday from Takeda, in which the Japanese company said the UK-listed drugmaker had rejected its advances. Under British takeover rules, Takeda had until next week to make an offer or walk away, after it initially expressed interest in Shire last month.

Takeover Frenzy

The latest proposal, made last week, comes amid a flurry of transactions in the pharmaceutical sector, marked by Glaxo Smith Kline’s $ 13 billion agreement last month to buy out Novartis' stake in the two companies’ consumer-health joint venture.

Just this week, Merck agreed to sell its over-the-counter unit to Procter & Gamble for $ 4.2 billion, Sanofi said it would sell its European generic-drug business to buyout firm Advent International and Shire agreed to sell its cancer unit to France’s Servier SAS for $ 2.4 billion.

Takeda’s largest purchase to date was a $ 13.7 billion takeover of Nycomed in 2011. Last year, the company expanded its footprint in the US oncology market with the $ 4.7 billion purchase of Ariad Pharmaceuticals.

P&G Acquires Merck's Consumer-Health Business for 4.2 Billion Dollars

USA/Germany: Healthcare Business

P&G Acquires Merck's Consumer-Health Business for 4.2 Billion Dollars

19/04/2018 - Procter & Gamble agreed to buy Merck’s consumer-health business for $ 4.2 billion to bolster growth, betting that vitamins and decongestants can hasten its comeback. German drugmaker Merck put the the unit up for sale last year as it pumps money into testing new medicines. read...

Sanofi to Sell European Generic-Drug Unit to Advent

France: Biotechnology

Sanofi to Sell European Generic-Drug Unit to Advent

17/04/2018 - Sanofi plans to sell its European generic-drug unit to buyout firm Advent International for $ 2.4 billion as part of a broader move by Chief Executive Officer Olivier Brandicourt to focus resources on biotechnology and new medicines. read...

Comments are being loaded ....

Leave a comment

The comment is checked by an editor and will be released soon.

  1. Avatar
    Avatar
    Edited by at
    Edited by at
    1. Avatar
      Avatar
      Edited by at
      Edited by at

Comments are being loaded ....

Report comment

Kommentar Freigeben

Der untenstehende Text wird an den Kommentator gesendet, falls dieser eine Email-hinterlegt hat.

Freigabe entfernen

Der untenstehende Text wird an den Kommentator gesendet, falls dieser eine Email-hinterlegt hat.

copyright

This article is protected by copyright. You want to use it for your own purpose? Contact us via: support.vogel.de/ (ID: 45260962 / Pharma & Food)