More ion this one... I suspect SHPG might make a move on PTCT. Fits in well with their strategy.
@@@@@Reuters) - Rare disease drugmaker PTC Therapeutics Inc (PTCT.O) is exploring a potential sale amid takeover interest from several pharmaceutical companies, including Shire Plc (SHP.L) and BioMarin Pharmaceutical Inc (BMRN.O), according to people familiar with the matter.The company, which treats a muscle-wasting disorder known as Duchenne, is working with financial advisers as it weighs strategic alternatives, said the sources, who asked not to be named because the matter is private.Prosena Holding NV, which also makes a treatment for Duchenne, was acquired last November by BioMarin for $840 million. PTC Therapeutics' drug Translarna has received orphan drug status in the European Union and the United States and is in process of seeking U.S. Food and Drug Administration approval. Shire Plc could be interested in acquiring PTC Therapeutics to add to its portfolio of rare disease drugs, the sources added. Shire has made several acquisitions to bolster its focus on rare diseases, including a $5.2 billion purchase of NPS Pharmaceuticals in January and a $4.2 billion deal for ViroPharma last year. It also took a look at acquiring Salix Pharmaceuticals Ltd (SLXP.O) in recent weeks but ended up passing on the deal, according to sources.
Another rumor out today.... this time the target is PTCT. The size of the target is much smaller than SLXP which would make this deal far easier to close on.
@@@@Orphan drug developer PTC Therapeutics (PTCT +16.1%) is exploring selling itself amid rumors of interest from Shire plc (SHPG +1.9%) and BioMarin Pharmaceuticals (BMRN +1.8%).PTC's lead product candidate is Translarna (ataluren) for the treatment of patients with genetic disorders due to a nonsense mutation. It is in clinical development for Duchenne muscular dystrophy (DMD) caused by a nonsense mutation (nmDMD) and cystic fibrosis caused by a nonsense mutation (mnCF). The FDA designated it an Orphan Drug for both indications.The company's market cap is $2.2B while DMD competitor Sarepta Therapeutics is valued at $637M. BioMarin gobbled up the other DMD player, Prosensa Holding N.V. in November for $680M plus milestones.
My guess is never. SHPG just closed the NPSP deal and I think they will focus on integrating and growing that new biz first before looking for further acquisitions.
@@@@Shire Completes Acquisition of NPS Pharma Dublin, Ireland – February 21, 2015 – Shire plc (LSE: SHP, NASDAQ: SHPG) announces the successful completion of the tender offer for all of the outstanding shares of NPS Pharmaceuticals, Inc. (NASDAQ: NPSP) and the subsequent acquisition of NPS Pharma.
The entire market is roughly $4B if all 5,000,000 people get treated. If they get only 10% in the next 2 years, that's 10% growth right there. It's the only game in town.
Results out yesterday. Overall very nice growth in 2014, but guidance for 2015 is lower than historical.
Based on actual exchange rates(6) we anticipate low-to-mid single digit product sales growth in 2015. This rate of product sales growth is lower than we saw in 2014 as we compare against the initial year of CINRYZE product sales and expect significantly lower INTUNIV sales following its December 2014 loss of exclusivity. Additionally, we expect product sales growth in 2015 will be held back by approximately three to four percentage points by foreign exchange headwinds from the strengthening US dollar, which particularly impacts ELAPRASE, REPLAGAL and VPRIV sales.Taken together, we expect Non GAAP diluted earnings per ADS growth in the mid-single digits in 2015 (high single digit growth on a CER basis).
Financial Highlights 2014 Growth(1)
Product sales $5,830 million +23%(2)(3)
Total revenues $6,022 million +22%
Non GAAP operating income $2,593 million +39%
US GAAP operating income $1,698 million -2%
Non GAAP EBITDA margin (excluding royalties & other revenues)(4) 44% +6 pps(5)
US GAAP net income margin(6) 57% +44 pps
Non GAAP diluted earnings per ADS $10.60 +38%
US GAAP diluted earnings per ADS $17.28 +390%
Non GAAP cash generation $2,402 million +35%
Non GAAP free cash flow $2,529 million +94%
US GAAP net cash provided by operating activities $4,228 mil
That didn't take very long now did it?
@@@@@(Reuters) - British pharmaceutical company Shire Plc (SHP.L) has taken initial steps towards a bid for U.S. bowel drugmaker Salix Pharmaceuticals Inc (SLXP.O) and is working with advisers on a potential offer, according to people familiar with the matter. Shire is evaluating how to secure financing for a Salix bid, one of the sources said. The sources cautioned that Shire may still decide against a bid given the deal's complexity. Salix is considering its options in the midst of a management shakeup and inventory issues, sources previously told Reuters. Valeant Pharmaceuticals International Inc (VRX.TO) has also been exploring an offer for Salix, the people added. It is not clear whether other companies are also preparing bids for Salix, which has a market capitalization of $9.2 billion.
every so often when british officials need a vote, they go on a tax parade. most of the time, no crime has been committed, and it is mainly crying and moaning about how everybody is rich and they are not.
Like accounting firms are never wrong. Ever heard of Arthur Andersen? Yes. I don't know the UK laws. Google sham transactions if you want some free background on the concept and tax treatment.
As long as the company is not breaking any laws it cannot be prosecuted. It's up to governments to close tax loopholes.
In any case, I was simply trying to find the reason for the unusual drop today, and I think this was it. Yahoo finance news feeds totally suck for non-US based companies. I always go to a site called 4-traders to view news and information on EU-based firms.
Sham transactions go beyond avoidance to evasion and can be disregarded for tax purposes. If there is no business or economic purpose besides tax avoidance, the authorites can ignore the arrangement and assess tax. That's the US law not sure if it is identical in the UK.
avoidance is not a crime - in fact it is the duty of publicly held corporations to perform tax avoidance
to think otherwise is to adopt Biden's stance that it is a patriotic duty to pay more taxes than you need to pay
Accusations but no statement of legal action against the firm. So basically a warning to the company is all.
@@@@@LONDON (Alliance News) - Shire PLC on Friday was accused of tax avoidance by the UK's Public Accounts Committee as part of a damning report issued by the committee into the role played by Big Four accountancy PricewaterhouseCoopers in helping its clients avoid paying tax. As part of the investigation, evidence was submitted regarding arrangements put in place by PwC on behalf of Shire involving the incorporation of an entity in Luxembourg. The evidence found Shire employs only two people to cover the seven companies it has incorporated in Luxembourg. Those two individuals are responsible for managing intra-company loans of around USD10 billion, which Shire used to shift profits to Luxembourg. The company was found to have paid an effective tax rate of only 0.0156% on the profits shifted to Luxembourg. The PAC questioned the substance of Shire's business in Luxembourg and said neither Shire nor PwC was able to provide any evidence to suggest the Luxembourg business was created for any reason other than avoiding tax. "Unless HMRC takes urgent action, this irresponsible activity will go unchecked, causing harm to both the public finances and the reputations of the companies involved," said Margaret Hodge, the committee chair.