As it continues to fight off a $30 billion takeover attempt from Shire, Baxalta has abandoned its pursuit of Ariad Pharmaceuticals, according to Bloomberg sources.
A recent Baxter spin-off, Baxalta had been discussing the acquisition of Massachusetts-based Ariad, who specializes in leukemia and lung-cancer treatments. Bloomberg sources report the deal broke down over price and negative feedback from Baxalta investors.
The Ariad buy could have potentially aided Baxalta in its continued quest to fend off Shire -- a deal which Baxalta CEO Ludwig Hantson has called a "low-ball valuation."
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