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ARTICLE | Company News

NPS denies rumored Shire bid

June 3, 2014 11:47 PM UTC

NPS Pharmaceuticals Inc. (NASDAQ:NPSP) denied media reports that Shire plc (LSE:SHP; NASDAQ:SHPG) has approached NPS regarding an acquisition offer. According to reports, Shire has been holding internal discussions about a cash deal that values NPS at "just over $4 billion." On Sunday, London's Times also reported that Shire secured a $5 billion credit facility for the offer. Shire declined to comment on the rumors.

Both companies are focused on rare diseases. In March, Paul Firuta was hired as president of NPS's U.S. commercial operations; he was VP and general manager of the Americas at ViroPharma Inc., which Shire acquired. ...