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

Not Enough Water on Three Giant Planets to Support Life

After conducting measurements of the atmospheres of three giant planets, a team of researchers have deduced that little water is present on them. With the help of the Hubble Space Telescope, the researchers have found that the three planets are not capable of supporting life because of not having H2O rich environment.

All the three...

Most Popular

Calibration Error Caused Overestimation of Expansion of Antarctic Sea Ice

A new study that was published in the journal 'The...

International Maritime Organization Reroutes Ships to Protect Whales

Blue whales are found in large numbers in the busy...

Botanical Objects Suspended in Space

A Japanese artist Azuma Makoto launched two botanical...

GSK Applying for Regulatory Approval of World’s First Malaria Vaccine

GlaxoSmithKline (GSK. L) has developed the world's first...

Poll

Can Greece Come out of Economic Problems: