LONDON, June 17 (Reuters) – Shares in Shire hit a
record high on Tuesday on expectations of a takeover as
dealmaking sweeps the drugs sector, after Reuters reported the
group had hired investment bank Citi as a defence adviser.
Potential acquirers are eyeing the drugmaker’s tax base in
Ireland, where effective corporate tax rates are among the
lowest in the world, as well as its fast-growing portfolio of
drugs to treat hyperactivity and rare diseases.
LONDON (Reuters) – Convergence Pharmaceuticals, a specialist pain drug company spun off from GlaxoSmithKline, is preparing for a possible stock market listing as British biotech companies enjoy a revival of interest from investors.
The European sector has been slow to catch up with its U.S. peers, which have seen a renaissance in the past two years, but since allergy drug developer Circassia raised 200 million pounds ($335 million) in March – the biggest London market debut in years for a biotech company – the wider industry’s fortunes have turned.
LONDON (Reuters) – The world’s biggest would-be drugs merger hit a wall last month but speculation about smart ways that Pfizer could yet seal a deal with AstraZeneca remains intense.
Even as talks fell apart last month, some in Pfizer’s camp remained optimistic the transaction could be revived – and certain AstraZeneca advisers have not ruled out renewed talks. Under British takeover law, the UK firm can approach Pfizer at the end of August to discuss a sweetened bid, or Pfizer can try again in November.
LONDON, June 12 (Reuters) – AstraZeneca has struck a
deal worth up to $232 million in milestone payments to acquire
rights to a drug from Synairgen for treating
respiratory tract viral infections in patients with severe
Britain’s second-biggest drugmaker – subject of a $118
billion bid by Pfizer that failed last month – said on
Thursday it would pay UK-based Synairgen a $7.25 million upfront
fee and potential development, regulatory and commercial
milestones of up to $225 million for rights to the drug,