Biotech Values

[DewDiligence]

More on ABBV’s pursuit of SHPG (from WSJ):

http://online.wsj.com/articles/drug-maker-abbvie-proposed-merger-with-shire-was-rejected-1403239977

Shire PLC, a specialist in drugs to treat attention-deficit disorder and rare diseases, has rejected a £27.2 billion ($46.35 billion) takeover bid from…AbbVie Inc… Under U.K. takeover rules, AbbVie has until July 18 to announce a firm intention to make an offer and said it reserves the right to introduce other forms of consideration and vary the cash-and-share mix of the bid.

…Shire's shares closed at £37.38 on Thursday, valuing the company at roughly £22 billion. The stock soared as much as 15.5% to £43.18 in early London trade Friday after AbbVie's statement, and lately were up 11.2% to £41.58.