IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients

AbbVie to acquire Shire for $55 billion

6:35 AM MDT | July 18, 2014 | Natasha Alperowicz

The boards of AbbVie (North Chicago, IL) and Shire (Dublin) announced today that they have reached agreement for AbbVie to acquire Shire for approximately £32 billion ($54.7 billion). The price represents a premium of approximately 53% to the price of Shire shares on 2 May, the last business day prior to AbbVie’s initial proposal. The companies say that the transaction will create a well-positioned specialty biopharmaceutical company with sustainable leadership positions within areas of unmet need, including immunology, rare diseases, neuroscience...

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