Senior Correspondent, London
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Oct 21, 2014
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Oct 16, 2014

AbbVie board ditches planned $55 billion Shire acquisition

LONDON (Reuters) – U.S. drugmaker AbbVie (ABBV.N: Quote, Profile, Research, Stock Buzz) has pulled the plug on its plan to buy Dublin-based Shire (SHP.L: Quote, Profile, Research, Stock Buzz), recommending shareholders vote against the proposed $55 billion takeover following new U.S. tax rules.

Shire stands to be paid a break-up fee of about $1.64 billion, assuming AbbVie’s shareholders follow the advice and reject the transaction.

Oct 14, 2014

Geographic split likely for GSK mature drugs sale: sources

LONDON (Reuters) – GlaxoSmithKline is seeking binding bids by next month for a range of older drugs worth more than $3 billion, which it is likely to sell by geographical region, according to people with direct knowledge of the process.

Potential bidders include private equity firm KKR, India’s Lupin and Denmark’s Lundbeck, all of which are interested in acquiring rights to products in certain regions.

    • About Ben

      "Ben Hirschler is European pharmaceuticals, biotechnology and healthcare correspondent, based in London. Previously, he was in charge of British company news and before that was posted to Johannesburg, covering the economic challenges facing post-apartheid South Africa."
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