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Shire considering bid for NPS Pharmaceuticals - Bloomberg
December 17, 2014 / 5:06 PM / 3 years ago

Shire considering bid for NPS Pharmaceuticals - Bloomberg

Dec 17 (Reuters) - Dublin-based Shire Plc, whose proposed sale to AbbVie Inc fell apart in October, is considering an offer for U.S-based drug developer NPS Pharmaceuticals Inc, Bloomberg reported, citing people familiar with the matter.

NPS's shares rose as much as 23 percent to $37.50 on the Nasdaq. Shire's shares were up 1.3 percent on the London Stock Exchange.

The timing of a possible bid would depend on whether the U.S. Food and Drug Administration approves NPS's hormone replacement therapy Natpara, two of the people told Bloomberg. (bloom.bg/1wFFJ3T)

Natpara is designed to treat low levels of the parathyroid hormone (PTH), which causes hypoparathyroidism.

The FDA is expected to decide on the drug on Jan. 24, 2015.

If approved, NPS plans to launch Natpara in the second quarter of 2015.

Although NPS is high on Shire's list of potential deals, other targets are also being considered, Bloomberg said.

Shire and NPS were not immediately available for comment.

AbbVie pulled the plug on its plan to buy Shire, blaming new U.S. tax rules aimed at curtailing tax inversion deals. (Reporting by Devika Krishna Kumar in Bengaluru; Editing by Siddharth Cavale)

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