Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

Wall Street gets Fed reality check
Wall Street gets Fed reality check - 01:51
Reuters Today: Spanish yields seen rising at auction
Reuters Today: Spanish yields seen rising at auction - 06:21
Surprise services boost points to UK recovery
Surprise services boost points to UK recovery - 02:54
Breakingviews: Do as I say, not as I do – German wages
Breakingviews: Do as I say, not as I do – German wages - 05:04
Market Pulse: Spain under fire as investors shun bond sale
Market Pulse: Spain under fire as investors shun bond sale - 03:28
Myanmar's Kyat begins managed float
Myanmar's Kyat begins managed float - 01:59
ASEAN: territorial code of conduct draft by year-end
ASEAN: territorial code of conduct draft by year-end - 01:48
U.S. Morning Call: Stock futures down, JPMorgan to be fined
U.S. Morning Call: Stock futures down, JPMorgan to be fined - 02:08
EMEA Day Ahead:: Thursday
EMEA Day Ahead:: Thursday - 03:13
3XSQ: Customer funds in question; royal return
3XSQ: Customer funds in question; royal return - 05:44
Still cashing in? Hirst retrospective
Still cashing in? Hirst retrospective - 02:32
World's biggest car delivery center
World's biggest car delivery center - 02:41

Drugmaker Shire's $30 bln Baxalta bid

Tuesday, August 04, 2015 - 01:00

Drugmaker Shire says it's seeking to buy Baxalta, a company spun-off by Baxter International last month, for $30 billion to forge the leading global specialist in rare diseases. As Joel Flynn reports the London-listed group went public with its approach after the U.S. firm turned it down.

▲ Hide Transcript

▶ View Transcript

Pharma's M&A is showing little signs of slowing, as Shire makes public its $30 billion offer for Baxter spin-off Baxalta. Ireland-based Shire's initial approach was rebuffed by the U.S firm. The all-share offer valued each Baxalta share at $45.23. The deal would form the world's leading rare disease specialist. Baxalta would add a promising range of new products to Shire's line-up, according to analysts. That includes a growing portfolio of high-priced treatments for rare diseases - which raked in 6 billion dollars in revenue last year. Shire Chief Executive Flemming Ornskov said its tax set up was also an attraction. News of the deal saw Baxalta shares spike 17 percent, while Shire's dropped 4.6 percent. It's the latest in a raft of mergers and acquisitions in the pharmaceutical and healthcare sector in the last 18 months. That's included purchases by large drugmakers and consolidation among generic manufacturers, as well as insurer tie-ups.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

Drugmaker Shire's $30 bln Baxalta bid

Tuesday, August 04, 2015 - 01:00