Dyax's ($DYAX) Phase III-ready prospect, DX-2930, would have competed directly with Shire's ($SHPG) Cinryze if and when it hit the market. But the Dublin drugmaker found a way to avoid the rivalry: a $5.9 billion buyout of the Massachusetts biotech. The deal will bolster the company's hereditary angioedema (HAE) franchise, which generates 15% of Shire's revenue and about 20% of earnings, Bernstein analyst Ronny Gal said in an investor note. More from FiercePharma