Shire and Baxalta ended months of M&A speculation Monday morning by announcing a $32 billion merger that the companies said would create a global market leader in rare diseases.
The boards of both companies have approved the deal, which is subject to approval by shareholders of Shire and Baxalta, plus regulatory approvals, redelivery of tax opinions delivered at signing, and other customary closing conditions. The deal is expected to close in mid-2016.
The companies projected they would generate more than $20 billion in combined annual revenues by 2020—a benchmark Shire has committed to in recent years—with rare disease holdings expected to account for 65% of total revenues.
“In sum, the combination will provide multiple billion-dollar franchises, each with best-in-class products and a platform for sustainable innovation, sustainable growth and value creation,” Shire CEO Flemming Ornskov, M.D., said this morning on a conference call with analysts. “This combination will create an industry-leading platform with significant opportunity for future growth.”
Full content: Forbes
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI