Posts tagged 'shire'

Does this stock need medicating?

It’s Shire, of course, reacting to a warning of better than expected earnings. The stock was up 8.7 per cent at 2744p at pixel. Read more

Shire in $750m biotech deal

Shire, the Dublin-based maker of treatments for attention deficit disorder, said on Wednesday it had agreed to buy closely held Advanced BioHealing for $750m in cash, a day before the biotech company was to go public, reports Bloomberg. The US company’s lead product is Dermagraft, used for diabetic foot ulcers. Advanced BioHealing’s planned IPO on Wednesday would have valued it at as much as $637m, according to regulatory filings. Shire had talked about a potential deal with Advanced BioHealing since 2008, said Mike Cola, president of Shire’s specialty pharmaceuticals business, noting the company would be central to Shire’s new regenerative medicine unit as a semi-autonomous division. DealBook says that by one calculation, the deal represents a premium to “what might have happened in an IPO”.

Snap news

Breaking pre-market news on Monday,

- India’s GTL cancels tower merger plan with Reliance – via ReutersRead more

ADHD, in 140 characters or less

Shire seems to have found the perfect marketing medium to promote its ADHD potion – Twitter, of course.

What better way to promote Vyvanse, a drug aimed at countering hyperactivity and impulsivity, than using a social media tool tailored to hyperactivity and impulsivity? Read more

Snap news

Breaking pre-market news on Tuesday,

- VW hedges give Porsche €6.8bn windfall – statementRead more

Shire, the Irish tax avoidance specialist (and drug company)

Hey, it’s magic. Shire, the pharmaceuticals business best known for its ADHD and genetic therapy work, is re-organising itself as a London and Nasdaq-listed entity through a Jersey incorporated holding company – which will somehow be tax-resident in the Republic of Ireland.

Nothing will change operationally. No job losses are envisaged, with Shire retaining its major sites in Basingstoke and Philadelphia. Shareholders do have to vote through the changes, however. Read more

Shire confirms refinancing

It’s quite the fashionable thing to do: execute the transaction, let the market have it’s snap reaction, allow the dust settle and the share price stabilise…and then refinance.

Shire, the speciality drugs group, on Wednesday confirmed that it is refinancing itself following its recent acquisition of American rival New River. Some $1bn of convertible bonds, due 2014, are being issued — convertible at a premium of between 45 and 50 per cent to the VWAP of Shire stock ahead of final pricing today. Read more

Shire’s £1bn cash call

Taking advantage of a recent spike in its share price, speciality drugs group Shire is expected to launch a £1bn convertible bond issue on Wednesday morning, FT Alphaville has learnt.

The move will allow the British company to repair its balance sheet after last month’s acquisition of its US partner New River Pharmaceuticals, which cost £1.3bn. Having paid $64 per share for New River, Shire took on £1.15bn of new debt at the time, but also raised about £450m in a share placing. Read more

Shire snaps up US partner for $2.6bn

Shire has agreed to buy US partner New River Pharmaceuticals for $2.6bn in a deal that gives it a replacement for its top selling drug which goes off patent in two years. But the deal also means the UK speciality pharmaceuticals company is set to become an increasingly attractive takeover target, according to analysts. Shire, which is paying $64 a share for New River, will finance the deal with $2.3bn of new debt and a share placing that on Tuesday raised $900m. The deal will be earnings-enhancing after 2009, the company said.

Markets live transcript 22 Dec 2006

Live markets commentary from FT.com