Shire prepares new takeover offer of Baxalta, according to reports

25 November 2015

Shares in US biotech firm Baxalta (NYSE: BXLT) soared by more than 10% on the New York stock exchange following unconfirmed reports that Ireland-based global pharma company Shire (LSE: SHP) is preparing a new takeover offer.

If successful, the deal would create one of the world’s leading specialists in rare diseases, with product sales of around $20 billion by 2020 and double-digit percent annual growth sales.

Baxalta, which has a market capitalisation of $22.7 billion, would help complement Shire's growing portfolio of high-priced treatments for rare or 'orphan' diseases.

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