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.
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.
LONDON (Reuters) – AstraZeneca’s cancer drug pipeline, already on a roll following promising clinical trial results, could get a further boost next week from a European green light for an experimental medicine against ovarian cancer.
European Medicines Agency experts will consider whether to recommend approval of olaparib at their regular monthly meeting, with a decision expected on Oct. 23 or 24, a company spokeswoman said.