Actionable news
0
All posts from Actionable news
Actionable news in BXLT: BAXALTA INCORPORATED,

Shire to Acquire Biotech Firm Dyax for at Least $5.9 Billion

Shire Plc, the drugmaker that’s made a $30 billion unsolicited offer to buy Baxalta Inc., agreed to buy biotechnology company Dyax Corp. for at least $5.9 billion in cash to gain a promising treatment for a rare genetic disorder.

Shire will pay $37.30 for each Dyax share, the companies said in a statement on Monday. That’s a 35 percent premium over the stock’s Friday closing price. Dyax investors may also get an additional $646 million, or $4 for each share, if a compound known as DX-2930 receives approval for treating hereditary angioedema, or HAE, a disease that can be debilitating and sometimes fatal.

Dyax’s DX-2930 could generate annual sales of as much as $2 billion globally, and would have patent protection and other exclusivity pacts beyond 2030, the companies...


More