Mum On Takeda, Shire Outlines Two-Division Performance
Before the March 28 announcement of Takeda’s interest in buying Shire, the focus of Shire’s first quarter earnings call was expected to be the initial reporting of financial results for rare disease and neuroscience as separate units. Sales for the former grew, but declined for the latter.
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Stakeholders are eager for details on the Takeda/Shire merger and on what Trump said to Pfizer CEO Ian Read to cause the recent about-face on price increases. Other key topics will be status updates on Teva's Copaxone franchise and on Novo Nordisk's oral semaglutide.
Chairman/CEO Saunders says the board has determined that keeping him in the dual role is the right move going forward. He added that the company, which had a strong second quarter, won’t be rushed in its efforts to divest its women’s health and infectious disease units.
Takeda further ups its offer for Shire to around £49 per share, which Shire’s board has said it is willing to recommend to shareholders, although any final deal remains subject to conditions and Takeda investors appear concerned over the size of the transaction.