Shire confirms $32bn Baxalta takeover

Biopharmaceutical company Shire has completed the $32 billion takeover of US-based Baxalta.

Both parties confirmed the agreement today, January 11. It is expected to be finalised within the next six months.

Under the terms of the agreement, Shire will acquire Baxalta’s “well-established hematology portfolio”.

In November, Baxalta launched the Adynovate [Antihemophilic Factor (Recombinant), PEGylated] drug, used to treat clotting in people with haemophilia A.

By 2020, Shire expects annual revenues to exceed $20 billion with the added inclusion of Baxalta’s products to its portfolio.

Flemming Ornskov, chief executive of Shire, said: “This proposed combination allows us to realise our vision of building the leading biotechnology company focused on rare diseases.

“Together, we will have leadership positions in multiple, high-value franchises and become the clear partner of choice in rare diseases,” he added.

Ludwig Hantson, chief executive of Baxalta, said: “Today’s announcement marks a new path forward for our organisation and is a testament to the significant progress we have made in achieving our strategic business priorities.”