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Replies to post #179557 on Biotech Values
06/20/14 9:55 AM
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.
06/20/14 5:20 PM
Shire employs [fewer] than 500 people in the U.K., where its executive offices are, and only about 100 in Ireland, where the company is domiciled for tax purposes… Chief Executive Officer, Flemming Ornskov and Phil Vickers, Shire’s research head, work in the U.S.
06/25/14 4:35 PM
…the U.S. District Court for the District of New Jersey granted Shire's summary judgment motion in a patent infringement lawsuit, holding that certain claims of the patents protecting Vyvanse® (lisdexamfetamine dimesylate) were both infringed and valid.
The ruling prevents the five pharmaceutical manufacturers (the ANDA Defendants) who have filed Abbreviated New Drug Applications (ANDAs) from launching generic versions of Vyvanse until the earlier of either a successful appeal to the U.S. Court of Appeals for the Federal Circuit, or the expiration of these patents in 2023.
06/25/14 6:56 PM
07/08/14 8:56 AM
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