Shire will consider giving proceeds from the sales to shareholders through a buyback and said additional divestitures were possible. The drugmaker, which is fighting a two-year stock slump, had about $19 billion in debt at the end of 2017.
The divestiture comes as Takeda Pharmaceutical is contemplating a possible acquisition of Shire, which has a market value of $47 billion. While Takeda cited Shire’s oncology division as a motivating factor in a potential takeover, analysts don’t believe the divestiture will be a deal breaker, according to Reuters.
If interested, Takeda must announce a bid for Shire by April 25 based on U.K. acquisition regulations.
More articles on supply chain:
GSK divests line of rare disease drugs
CVS Health selects former Iora Health exec to serve as CMO of MinuteClinic
Senator calls out drugmakers for buying back stocks rather than slashing prices for consumers
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
