UK company Shire is to aquire with NPS Pharmaceuticals, according to a statement by the companies.
The two have entered into a merger agreement, with Shire buying all outstanding NPS shares for $46 (£30.48) each, with the total said to be at $5.2bn.
According to the statement, Shire will look to accelerate NPS Pharma’s innovative portfolio through its market expertise in gastrointestinal (GI) disorders, core capabilities in rare disease patient management and global prescence. Shire is listed both in London and on the Nasdaq, while NPS is listed on the Nasdaq only.
Shire’s chief executive officer, Flemming Ornskov said:
We look forward to accelerating the growth of the NPS Pharma portfolio based on our proven track record of maximizing value from acquired assets and commercial execution. The NPS Pharma organization will be a welcome addition to Shire as we continue to help transform the lives of patients with rare diseases.
Shire came to prominence this year through the overtures of AbbVie, a US company that failed with a takeover bid.
NPS pharma is another stateside operator, specialising in rare diseases. Its chief executive, Francois Nader, said:
Shire shares NPS Pharma’s commitment to patients with rare diseases. We believe that joining our two companies will drive value for shareholders and ensure we continue to transform the lives of patients.