LONDON (Reuters) – Drugmaker Shire (SHP.L: Quote, Profile, Research, Stock Buzz) said on Tuesday it was seeking to buy Baxalta (BXLT.N: Quote, Profile, Research, Stock Buzz), a company spun-off by Baxter International (BAX.N: Quote, Profile, Research, Stock Buzz) last month, for $30 billion to forge the leading global specialist in rare diseases.
The London-listed group went public with its approach after the U.S. firm turned it down. Shire said its unsolicited offer of 0.1687 Shire American depositary receipts per share valued each Baxalta share at $45.23. Shares in Baxalta jumped 19 percent to $39.50 in pre-market trading.
LONDON, July 29 (Reuters) – British investor Neil Woodford
is backing a start-up biopharmaceutical firm whose first venture
will be to launch clinical trials of three drugs developed by
London-based Mereo BioPharma Group, set up in March, aims to
buy drugs discovered by big pharmaceutical companies and fund
and design later-stage clinical trials.
LONDON, July 28 (Reuters) – British broadcaster ITV
said the advertising market was in good shape, reflecting an
improving economy and strong demand for slots around the Rugby
World Cup that kicks off in September.
ITV, which shows soap opera “Coronation Street” on its
flagship channel, said net ad revenue would be up 6 percent for
the nine months to the end of September, an improvement on the 5
percent seen in the first half.
LONDON, July 24 (Reuters) – Pearson will increase
earnings this year for the first time since 2011, it said on
Friday, allaying worries about the health of a U.S. education
business that is increasingly important after its deal to sell
the Financial Times newspaper.
The British publisher posted on Friday a small fall in
first-half earnings, a day after Japan’s Nikkei agreed to buy
the global business newspaper for $1.3 billion.
LONDON (Reuters) – Pharmaceuticals company Shire (SHP.L: Quote, Profile, Research) missed market expectations for second-quarter earnings after it spent more on new products and competition hit sales of its ADHD drug Intuniv.
Shares in Shire, at a seven-week high ahead of results, traded 0.5 percent lower at 5,440 pence at 1410 GMT after earnings per share came in at $2.63 against analysts’ forecasts of $2.80.
LONDON, July 23 (Reuters) – Pharmaceuticals company Shire
missed market expectations for second-quarter earnings
after it spent more on new products and competition hit sales of
its ADHD drug Intuniv.
Shares in Shire, at a seven-week high ahead of results,
traded 0.5 percent lower at 5,440 pence at 1410 GMT after
earnings per share came in at $2.63 against analysts’ forecasts
LONDON, July 22 (Reuters) – ARM Holdings felt the
chill from Apple, one of its biggest customers, as doubts about
the strength of the global smartphone market overshadowed a 32
percent jump in second-quarter profit at the British chip
Apple disappointed the market with its revenue
forecast late on Tuesday, despite strong sales of the iPhone 6,
a product that generates high royalties for ARM.
LONDON, July 20 (Reuters) – France’s Schneider Electric
is combining its software operations with Britain’s
Aveva to create a business active in sectors ranging
from nuclear power to pharmaceuticals and less reliant on oil
and gas markets.
Schneider will pay 550 million pounds ($858 million) towards
the issue of new shares in Aveva, a company that designs
shipping, industrial plants and nuclear power stations. It will
take a 53.5 percent stake in the enlarged company.
LONDON (Reuters) – Britain’s dominant telecoms provider BT could be broken up under a proposal from the regulator, after rivals accused it of abusing its market position and failing to invest in the broadband networks they rely on.
Regulator Ofcom floated the idea of a forced separation of BT’s Openreach network after rivals Sky and TalkTalk stepped up pressure for the national copper and fiber broadband networks to be run by an independent operator.
LONDON, July 14 (Reuters) – Britain’s BBC came out fighting
ahead of a showdown with the newly elected government on
Tuesday, saying the views of the public must trump those of
politicians and rivals driven by ideological and commercial
Having won an unexpectedly decisive election victory in May,
Prime Minister David Cameron’s government has set its sights on
the 92-year-old corporation, accusing it of holding imperial
ambitions that threaten the viability of commercial rivals.