Shire agrees to buy NPS Pharma for $5.2bn

The deal approved by the boards of directors from both companies will see Shire pay $46 per share in cash for NPS, which has expertise in gastrointestinal (GI) disorders and core capabilities in rare disease patient management.

Shire chief executive officer Flemming Ornskov said: "The acquisition of NPS Pharma is a significant step in advancing Shire’s strategy to become a leading biotechnology company.

"With our global strength and expertise in both rare diseases and GI, Shire is uniquely positioned to drive the continued success of Gattex/Revestive, and, if approved, commercialize NPS Pharma’s pipeline compound Natpara/Natpar.

"We look forward to accelerating the growth of the NPS Pharma portfolio based on our proven track record of maximizing value from acquired assets and commercial execution."

NPS’s Gattex/Revestive (teduglutide [rDNA origin]) for injection is approved in the US and Europe to treat adults with short bowel syndrome (SBS) who are dependent on parenteral support.

Currently, NPS is awaiting approval from the US Food and Drug Administration (FDA) for a second drug Natpara/Natpar (rhPTH -83), which is designed to treat a rare condition called hypoparathyroidism (HPT).

Image: Shire location in Lexington Massachusetts, US. Photo: courtesy of John Phelan.