BioCentury
ARTICLE | Finance

Shire in the hunt

July 19, 1999 7:00 AM UTC

Merger mania is still gripping the U.K. biotech sector. Thus rumors that Shire (LSE:SHP, SHPGY) had failed to land Medeva (LSE:MDV) did little to dampen enthusiasm for MDV, which gained 20.5p (18 percent) to 133p on the week, adding £70 million in market cap to £454 million ($704 million).

Concomitantly, SHP shares traveled south from 613p to 579p at week's end, trimming its market cap by £49 million to £830 million ($1.3 billion)...