Shire, awaiting the close of its $32 billion merger with Baxalta, is planning to move away from its penchant for acquisitions and focus on developing and launching products, CEO Flemming Ornskov said.
Shire's been somewhat of an M&A machine as of late, making a string of deals that most recently included its largest-ever, Baxalta. But it's an old standby that helped the company beat analyst estimates for Q4.
Shire's once-rejected treatment for dry eye disease has another date with the FDA, supported by new data the company believes will get the drug on the market and eventually help bring in more than $1 billion in annual revenue.
It's been just over three months since the FDA handed Shire a rejection for dry eye candidate lifitegrast, giving rival Allergan a boost in the process. But now, the company is back with a resubmission.
Shire has resubmitted the once-rejected eye treatment lifitegrast for FDA approval, handing in new data the company hopes will get its self-described blockbuster drug onto the market.
Shire CEO Flemming Ornskov says his own goals for cost savings, postmerger with Baxalta, are higher than the company's stated $500 million.
Shire may have clinched its $32 billion deal to buy Baxalta, but not everyone is breaking out the confetti. Some analysts aren't sold on the tie-up, saying they expected more in the way of savings and still are perplexed by what Baxalta brings to the table.
Baxalta and its portfolio of hemophilia meds are finally destined to join the fold at Shire. Monday, the two companies announced a $32 billion tie-up after a months-long pursuit by the Dublin drugmaker.
The new year has its first megadeal agreement, thanks to Shire and Baxalta. On Monday, the two finally announced a $32 billion tie-up after a months-long pursuit by the Dublin drugmaker.
Could Shire's months-long pursuit of Baxalta finally be coming to a close? That's the word from Reuters, which says the Dublin drugmaker is preparing to announce its acquisition--valued at about $32.5 billion--as early as Monday.