Specialty biopharmaceutical firm Shire has made an offer of around $30bn to acquire Baxalta, a drugmaker subsidiary of Baxter.

Shire has proposed to pay $45.23 per Baxalta share, representing a 36% premium to its stock price on 3 August.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Baxalta has confirmed that it received highly conditional and unsolicited proposal from Shire to purchase all of its outstanding common shares in an all-stock transaction.

"Both firms are predicted to deliver product sales of $20bn in 2020."

Baxalta board chairman Wayne Hockmeyer said: "The board today reaffirmed its conclusion that Shire’s proposal significantly undervalues Baxalta and its attractive prospects for growth and value creation, and that a merger at this time would be severely disruptive at this very early stage of Baxalta’s existence as a public company and presents a significant and real risk to value creation for our shareholders."

According to Shire, the combination will provide platform for growth, with over 30 planned product launches and rare diseases portfolio with around 50 projects.

See Also:

Through their combined pipeline, both firms are predicted to deliver product sales of $20bn in 2020, said Shire.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Shir CEO Flemming Ornskov said: "We believe the proposed combination of Shire and Baxalta would be strategically and financially attractive for both of our companies, accelerating our respective growth ambitions and creating the leading global biotech company in rare diseases."

Baxalta is involved in developing, manufacturing and commercialising therapies for orphan diseases and underserved conditions in haematology, oncology and immunology.

The firm’s therapies are available in around 100 countries worldwide.