Shire has been quiet since making its unwelcomed $30 billion bid to acquire Baxalta public earlier this month. But Baxalta evidently isn't waiting for the next step to play out in that dance. Bloomberg is reporting this afternoon that Baxalta is hunting for an acquisition around the $2 billion mark that would add to its hematology pipeline.
When Shire shelled out $4.2 billion for ViroPharma a couple of years ago, it picked up the rare disease drug Cinryze, but what it didn't get in the deal was complete control over manufacturing of the rare disease drug. That had been ceded by ViroPharma to Sanquin Blood Supply. But Shire has now worked a deal with Amsterdam-based Sanquin that will allow it to add more contract manufacturers and so boost production of the treatment.
Shire has big plans for rare-disease drug Cinryze, which it acquired through its ViroPharma buyout. And it's struck a new deal to make sure it has the capacity to realize them.
As kids start heading back to school--and getting back on their ADHD meds--one analyst expected Shire's Vyvanse to steal market share from Johnson & Johnson's Concerta. And so far, the med is meeting his expectations.
Shire may consider upping its pitch for Baxalta, but first it needs more details on the financial future of its target.
Earlier this week, Baxalta CEO Ludwig Hantson called Shire's $30 billion bid for his company a "lowball" offer, urging shareholders instead to look to Baxalta's standalone growth prospects. But before Shire raises its proposal, it needs some more details on just what those are.
Baxalta CEO Ludwig Hantson, barely a month into his tenure, is already fending off an unwelcome takeover attempt, telling shareholders Monday that Shire's roughly $30 billion offer is woefully inadequate and that he and his board have no intention of taking it.
On Tuesday, Shire went public with a $30 billion bid for Baxalta that had already been rejected once. And the second time around, Baxalta had the same answer: It's not happening.
Baxalta execs didn't like the idea of a $30 billion all-share Shire buyout when they heard it the first time on July 10--and they didn't warm to it at all when Shire decided to go public with the offer Tuesday morning.
Shire announced on Tuesday that it put forth a bid of about $30 billion for Baxter spinoff Baxalta on July 10--just 9 days after Baxalta went solo--and now it's taking the offer to shareholders to spur the company to the bargaining table.