Shire announced it will acquire all the outstanding shares of NPS Pharma for $46 per share in cash, for a total consideration of about $5.2 billion. Shire will accelerate the growth of NPS Pharma’s innovative portfolio through its market expertise in gastrointestinal (GI) disorders, core capabilities in rare disease patient management, and global footprint.
NPS Pharma is a rare disease-focused biopharmaceutical company and its first product, GATTEX/REVESTIVE (teduglutide [rDNA origin]) for injection, is approved in the United States and Europe to treat adults with short bowel syndrome (SBS) who are dependent on parenteral support. NPS Pharma also has a registration phase product, NATPARA/NATPAR (rhPTH -83) for the treatment of hypoparathyroidism (HPT).
Shire CEO Flemming Ornskov, MD, MPH, said: “The acquisition of NPS Pharma is a significant step in advancing Shire’s strategy to become a leading biotechnology company. With our global strength and expertise in both rare diseases and GI, Shire is uniquely positioned to drive the continued success of GATTEX/REVESTIVE, and, if approved, commercialize NPS Pharma’s pipeline compound NATPARA/NATPAR..."
Francois Nader, MD, president, CEO and director of NPS Pharma, stated:
“Shire shares NPS Pharma’s commitment to patients with rare diseases. We believe that joining our two companies will drive value for shareholders and ensure we continue to transform the lives of patients with short bowel syndrome, hypoparathyroidism, and autosomal dominant hypocalcemia worldwide. I am confident that this transaction will accelerate our ambition of creating a world where every person living with a rare disease has a therapy. I would like to thank all of our employees for their continued outstanding contributions and steadfast commitment to the patients we serve.”
GATTEX has received orphan drug designation from the FDA and was approved in December 2012. GATTEX generated sales of $67.9 million in the nine months ending Sept. 30, 2014. In Europe, REVESTIVE has been launched in Germany and Sweden.
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