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Shire adds rare-disease portfolio with acquisition of NPS Pharma.
Shire has announced plans to acquire NPS Pharma, a rare disease-focused biopharmaceutical company, acquiring all the outstanding shares of NPS Pharma for $46.00 per share in cash, for a total consideration of approximately $5.2 billion.
Shire reports in a Jan. 11 press statement that the company will “accelerate the growth of NPS Pharma’s innovative portfolio through its market expertise in gastrointestinal (GI) disorders, core capabilities in rare disease patient management, and global footprint.” The transaction, in which Shire will purchase all outstanding shares of NPS Pharma at $46 per share, has been approved unanimously by the Boards of Directors of both Shire and NPS Pharma.
NPS Pharma’s first product, GATTEX/REVESTIVE (teduglutide [rDNA origin]) for injection, is approved in the United States and Europe to treat adults with short bowel syndrome who are dependent on parenteral support. NPS Pharma also has a registration phase product, NATPARA/NATPAR (rhPTH -83) for the treatment of hypoparathyroidism.
The $46.00 per share price in the transaction represents a 51% premium to NPS Pharma's unaffected share price of $30.47 on December 16, 2014. The sale is expected to close in the first quarter of 2015.
The acquisition advances Shire’s strategy to become a leading biotechnology company, reports Shire CEO Flemming Ornskov in the statement.