Shire is reportedly preparing a new cash-plus-stock offer for Baxalta. The report comes almost four months after a $30 billion all-stock proposal was dismissed by Baxalta, leaving Shire to ponder how to advance its ambitions to become a rare disease powerhouse.
Last month, Shire said it still believed an acquisition for Baxalta--a target that rejected it almost four months back--would make a "highly strategic combination." And now, it's preparing to follow up.
Dyax's Phase III-ready prospect, DX-2930, would have competed directly with Shire's Cinryze if and when it hit the market. But the Dublin drugmaker found a way to avoid the rivalry: a $5.9 billion buyout of the Massachusetts biotech.
Want to dodge some competition for your fast-growing products? Buy it up. That's the tack Shire took Monday, agreeing to shell out $5.9 billion for Massachusetts-based Dyax. The company boasts on-the-market Kalbitor, an acute treatment for hereditary angioedema (HAE), as well as the Phase III-ready candidate DX-2930, which bears the FDA's fast track and breakthrough tags, as well as orphan drug designations in both the U.S. and EU.
Shire signed a deal to buy Dyax for $5.9 billion, planning to snatch up a smaller competitor and fortify its rare disease business without taking its eyes off of acquisition target Baxalta.
Chalk up a win for pharma patent challenger Kyle Bass. The U.S. Patent and Trademark Office has agreed to institute trials for 6 of the drug patents he's challenged--and IP shields for Celgene's Revlimid and Shire's Gattex are among them.
Drug R&D is a tough business. The odds are almost always against success, and the price to be paid for being wrong is cruelly high. That said, it did seem a little harder than usual this year to...
Just one week after receiving an FDA rejection for dry-eye candidate lifitegrast, Shire came back on Tuesday with positive Phase III data for the med.
Shire took a major blow this month when the FDA rejected its self-described blockbuster eye treatment lifitegrast, but the company believes data from a new clinical trial will help it quickly reapply for approval next year.
Lexington, MA-based Shire reported in its quarterly earnings today that it reached a deal to terminate its $260 million-plus buyout package for Lumena investors with a $90 million payoff as it assesses the bleak future of SHP625.