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NPS acquisition could push Shire past 2020 goal

January 13, 2015 3:24 AM UTC

Shire plc (LSE:SHP; NASDAQ:SHPG) will acquire rare disease play NPS Pharmaceuticals Inc. (NASDAQ:NPSP) for $46 per share, or $5.2 billion in cash. The price represents a 51% premium to NPS's close of $30.47 on Dec. 16, 2014, before media reports suggested Shire was considering a bid for NPS (see BioCentury Extra, Dec. 17, 2014).

On a conference call, Shire CEO Flemming Ornskov said the acquisition will provide Shire with an additional upside beyond the company's 2020 sales target of $10 billion. ...