Shire to Buy ViroPharma for Around $4.2 Billion

Shire to Buy ViroPharma for Around $4.2 Billion

In order to establish itself in providing treatments for rare disease, Shire Plc is going to buy ViroPharma Inc. The deal has taken place for around $4.2 billion and Shire will be paying $50 a share and that too in cash.

The recent deal is considered to be the third one for Shire. The purchase will allow Shire to have an access to Cinryze, a medicine meant for the treatment of hereditary angioedema, an inflammatory condition.

The company has said that the deal will help in raising Shire's earnings per share. In fact, as the announcement of the deal was made, Shire was able to witness a rise of 3.5% amounting to 2,894 pence.

"It's a deal that fits with our strategy of increased focus on high-growth speciality markets, particularly rare diseases", said Flemming Ornskov, CEO of Shire.

Ornskov talked about Cinryze and said that it will act a grown engine for the company. Moreover, it is an attractive drug that will prove beneficial for the company.

In addition, it has been revealed that Shire has announced that it has been planning to stop a number of programs that are taking place out of the field of rare disease.


FrenchTribune Specials

Altice makes offer to buy France's Bouygues Telecom

An offer to buy France's Bouygues Telecom through its subsidiary Numericable-SFR has been made by European telecoms group Altice.

On Tuesday, Bouygues said that its board would meet to discuss Altice's 'unsolicited offer'. The company added that negotiations between the two sides were in progress and Altice will update the market sooner...

Most Popular

Expert records mating dance of peacock spider

Jürgen Otto, a mite biologist and peacock spider...

Hyperion appears like a frozen honeycomb

Saturn’s moon Hyperion appears similar to a frozen...

Google releases list of 20 finalists at Science Fair's

American internet giant, Google has announced the list...

Volcanic ash delays flights to Bali

According to latest reports, the volcanic ash from Mount...

Poll

Can Greece Come out of Economic Problems: