Shire has announced a US$5.2bn acquisition of the US company NPS Pharmaceuticals following unanimous approval by both company boards.
The move, announced on 11 January 2015, comes just three months after a proposed merger between Shire and AbbVie fell through after a change of heart by the US company.
Shire, based in Dublin, said in a statement that it plans to grow the rare disease management and gastrointestinal disorders portfolios currently held by NPS Pharmaceuticals following the acquisition.
“The acquisition of NPS Pharma is a significant step in advancing Shire’s strategy to become a leading biotechnology company,” its chief executive officer Flemming Ornskov said. “The NPS Pharma organisation will be a welcome addition to Shire as we continue to help transform the lives of patients with rare diseases.”
Francois Nader, managing director, president, chief executive officer and director of NPS Pharmaceuticals, which is headquarted in Bedminster, New Jersey, said: “We believe that joining our two companies will ensure we continue to transform the lives of patients with short bowel syndrome, hypoparathyroidism and autosomal dominant hypocalcemia worldwide.
“I am confident that this transaction will accelerate our ambition of creating a world where every person living with a rare disease has a therapy.”