A large pharmaceutical company Shire is buying its rival Baxalta for $ 32 billion

A large pharmaceutical company Shire is buying its rival Baxalta for $ 32 billion

04.01.2016 News

A large pharmaceutical company Shire is buying its rival Baxalta for $ 32 billionAccording to news agency Bloomberg, citing informed sources, a large Irish pharmaceutical company Shire is buying its rival company Baxalta Inc. This will create a new global biotech giants.

The acquisition price is approximately $ 32 billion by shares and cash, not including the payment of debts. Precise details of the purchase are not currently disclosed.

It’s a second attempt to deal, as the Shire already tried to reach an agreement last summer when they proposed to Baxalta about $ 30 billion, but the offer was rejected because the sellers were not satisfied with the price offered by potential buyers.

 Now the Shire representatives say that the merger of two large companies could create the world’s leading business biotech company  which activities will be focused on the development and production of drugs to combat rare diseases.

The merger of the two corporations will be one of the largest in the pharmaceutical sector. The Shire company, united with Baxalta, plans to release 30 new drugs, and predicts that sales in 2020 will reach $ 20 billion. Also for the Shire company  the merger  is an opportunity to reduce the income tax rate to 16-17%.

Company Baxalta is the new American pharmaceutical company, which was founded in the summer of 2015, separated from the parent company Baxter. The company Shire is the  Ireland’s largest pharmaceutical company, which was founded in 1986. The company specializes in designing and manufacturing of medicines for rare diseases. Last year, the revenue of each company amounted to about $ 6 billion.

Source: www.bloomberg.com

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