Wednesday 18 March 2015

RARE alert: Shire's next deal could be "transformational"

It's Budget day (here in the UK), so here is a piece of RARE that is completely unconnected to one of the busiest days in financial/political journalism.

I hear Shire's next deal is likely to be "transformational".

Since Flemming Ornskov took the helm of pharmaceutical giant he has carried out quite a few major deals, such as this year's $5.2 billion acquisition of NPS or the $4.2 billion purchase of ViroPharma in 2013.

Although these deals have been multi-billion dollar transactions, I am told by sources that Ornskov and his team's next acquisition is likely to seriously move the needle i.e. in the tens of billions category.

I know that Shire has taken a good look bowel drugmaker Salix, which is currently at the centre of a bidding war between Valeant and Endo. However, I suspect (but I don't know) the FTSE 100 company is unlikely to be drawn into that situation.

To be clear, I have no idea what Shire's "transformational" deal will be. The only thing I have been told is: don't expect it to happen immediately.

Remember this information is RARE! For readers that don't recall what RARE is, here is the definition:

Market gossip that hasn't been tested through formal journalistic channels (public relations executives, bankers etc). The rumour might be total codswallop but then again there may be something in it, so it's worth airing on Betaville.

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