Shire ($SHPG) has stirred up longtime rumors of a potential takeover attempt after hiring the investment bank Lazard as an adviser. The Sunday Times reported that a bid may be brewing for Shire, which has won kudos for its drug portfolio as well as a busy set of pipeline projects. Most recently Bristol-Myers Squibb ($BMY) was reportedly interested in a buyout. Under new CEO Flemming Ornskov, Shire has been buying up small drug developers, with an eye to grabbing some more rare disease drugs ahead. Story | More from FiercePharma