Deals
Shire Hunt for Next Target Spotlights PTC to Synageva: Real M&A
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Shire Plc just announced its biggest takeover yet, and it’s already hinting at another one.
The Dublin-based drugmaker is buying NPS Pharmaceuticals Inc. for $5.2 billion, just one year after completing the $4.2 billion purchase of ViroPharma Inc. Given the cash Shire generates -- about $400 million per quarter on average -- this latest transaction won’t limit the $41 billion company from pursuing future deals, which it needs to become a leader in biotechnology, Chief Executive Officer Flemming Ornskov said in an interview.