 "Shire Plc to acquire NPS Pharma for $5.2 bn")
Irish pharma major Shire Plc has agreed to acquire all the outstanding shares of the US-based NPS Pharma for $46 per share in cash, for a total consideration of approximately $5.2 billion. Shire will accelerate the growth of NPS Pharma's innovative portfolio through its market expertise in gastrointestinal (GI) disorders, core capabilities in rare disease patient management, and global footprint. The transaction has been approved unanimously by the Boards of Directors of both Shire and NPS Pharma.
NPS Pharma is a rare disease-focused biopharmaceutical company and its first product, Gattex/Revestive (teduglutide rDNA origin) for injection, is approved in the US and Europe to treat adults with short bowel syndrome (SBS) who are dependent on parenteral support. NPS Pharma also has a registration phase product, Natpara/Natpar for the treatment of hypoparathyroidism (HPT).
Flemming Ornskov, chief executive officer, Shire, commented, “The acquisition of NPS Pharma is a significant step in advancing Shire's strategy to become a leading biotechnology company. With our global strength and expertise in both rare diseases and GI, Shire is uniquely positioned to drive the continued success of Gattex/Revestive, and, if approved, commercialise NPS Pharma's pipeline compound Natpara/Natpar.”
NPS Pharma has an operational presence in the US, Canada, Europe, Latin America and Japan. The value of NPS Pharma's gross assets were $282.2 million with net assets totalling $130.9 million as of September 30, 2014. NPS Pharma's losses before tax for the three and nine month periods ending September 30, 2014 were $1.9 million and $6.2 million, respectively.
NPS Pharma is a rare disease-focused biopharmaceutical company and its first product, Gattex/Revestive (teduglutide rDNA origin) for injection, is approved in the US and Europe to treat adults with short bowel syndrome (SBS) who are dependent on parenteral support. NPS Pharma also has a registration phase product, Natpara/Natpar for the treatment of hypoparathyroidism (HPT).
Flemming Ornskov, chief executive officer, Shire, commented, “The acquisition of NPS Pharma is a significant step in advancing Shire's strategy to become a leading biotechnology company. With our global strength and expertise in both rare diseases and GI, Shire is uniquely positioned to drive the continued success of Gattex/Revestive, and, if approved, commercialise NPS Pharma's pipeline compound Natpara/Natpar.”
NPS Pharma has an operational presence in the US, Canada, Europe, Latin America and Japan. The value of NPS Pharma's gross assets were $282.2 million with net assets totalling $130.9 million as of September 30, 2014. NPS Pharma's losses before tax for the three and nine month periods ending September 30, 2014 were $1.9 million and $6.2 million, respectively.