Shire paying $5.2bn for rare disease specialist NPS
This article was originally published in Scrip
Shire will put its $1.6bn cash breakup fee from AbbVie – and then some – to use via the Dublin-based company's $5.2bn acquisition of NPS Pharmaceuticals.
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Shire’s Perry Sternberg and Phil Vickers are optimistic about recent launches and products in late stages of development in key rare disease and specialty therapeutic areas, many of which come from Baxalta and other high-profile acquisitions.
Since becoming CEO of Shire in April 2013, Flemming Ornskov has overseen around $50bn in M&A deals. He steered the company through the ultimately abortive takeover by AbbVie and walked away with a break fee of $1.6bn, going on to consummate instead Shire’s $32bn acquisition of Baxalta earlier this year. He spoke to Scrip about his vision and values.
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