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|52-week range||39.63 - 58.40|
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A US hedge fund is demanding a string of divestments at the FTSE-100 biotech group Shire (Xetra: S7E.DE - news) , underlining growing interest among activist investors in large European companies. Sky News has learnt that Sachem Head Capital Management is urging the board of Shire, which specialises in treatments for rare diseases and neuroscience products, to explore a sale or spin-off of several of its assets. The move, which has been raised during discussions between the hedge fund and Shire directors in recent months, comes after Sachem Head disclosed during the summer that it had acquired a small stake in the pharmaceuticals group.
Shire filed an antitrust suit against Allergan, alleging Allergan’s contracts with Medicare Part D drug plans for its Restasis eye drops effectively blocked access to Shire’s rival drug.
In a complaint filed with the federal court in Newark, New Jersey, Shire accused Allergan of violating antitrust laws to preserve its roughly 90 percent share in Medicare prescription drug plans for its older and "clinically inferior" dry eye drug Restasis, and block prescriptions of Shire's rival drug Xiidra. "Quite simply, Allergan has and will continue to use bundled discounts, exclusive dealing, coercion and interference to unlawfully 'block' Shire from competing with it, and to maintain its monopoly in the Part D market at all costs," Shire said, referring to the Medicare drug plans.
Oct (Shenzhen: 000069.SZ - news) 2 (Reuters) - Allergan Plc (Frankfurt: A1W5NE - news) was sued on Monday by Shire Plc (Xetra: S7E.DE - news) for allegedly scheming to block doctors from prescribing its new treatment for dry eye disease. In a complaint filed with the federal court in Newark, New (KOSDAQ: 160550.KQ - news) Jersey, Shire accused Allergan of violating antitrust laws to preserve its roughly 90 percent share in Medicare prescription drug plans for its older and "clinically inferior" dry eye drug Restasis, and block prescriptions of Shire's rival drug Xiidra. "Quite simply, Allergan has and will continue to use bundled discounts, exclusive dealing, coercion and interference to unlawfully 'block' Shire from competing with it, and to maintain its monopoly in the Part D market at all costs," Shire said, referring to the Medicare drug plans.
London-listed drugmaker Shire (Hamburg: 3979575.HM - news) said on Monday it had successfully tested a new medicine that prevents attacks in patients with hereditary angioedema (HAE), a rare genetic disease that causes swelling of extremities, the gastrointestinal tract and upper airways. "We are very pleased with the strong results of this study, which demonstrated efficacy with a low-volume dosing regimen, and what it potentially could mean for the global HAE community, if approved," said Shire (Xetra: S7E.DE - news) 's head of research and development, Howard Mayer.
Shire (Xetra: S7E.DE - news) is weathering a period a major change well, the company said on Tuesday, as analysts at UBS (LSE: 0QNR.L - news) cut their price target on the stock in response to signs of falling staff satisfaction at the drugmaker. A trawl of 20,000 employee reviews from careers website Glassdoor showed a major decline in staff satisfaction at Shire (Hamburg: 3979575.HM - news) in 2017, with the company coming 24th out of 26 biopharmaceutical companies on "overall satisfaction", UBS said. Shire, which recently lost its chief financial officer and head of research, faces testing times after buying United (Shenzhen: 000925.SZ - news) States-based Baxalta (Xetra: 9BX.DE - news) in its biggest ever deal, leading to inevitable upheaval and challenges.
** Drugmaker Shire up 1.6%, recovering some ground after Monday's 4% fall to a 17-month low on news CFO Jeff Poulton is leaving at the end of the year to join Boston-based plant technology start-up Indigo ...
Pharmaceutical company Shire (Hamburg: 3979575.HM - news) said its chief financial officer Jeff Poulton will stand down at the end of the year to join Indigo Ag, a Boston-based start-up that seeks to improve agricultural productivity. Poulton, who joined Shire (Xetra: S7E.DE - news) in 2003, has been CFO since January 2015, a period that saw Shire make its largest acquisition with the $32 billion purchase of Baxalta (Xetra: 9BX.DE - news) last year.
Shire (Xetra: S7E.DE - news) , the London-listed pharmaceutical firm built up by acquisitions, said it might spin off its hyperactivity drugs business into a separate company and focus solely on rare disease treatments. Chief Executive Flemming Ornskov said the recent approval of its newest ADHD (attention deficit hyperactivity disorder) drug, and strong demand for its blockbuster Vyvanse, meant the business could thrive as a standalone company.
Swiss drugmaker Roche's bid to take a chunk of the $11 billion haemophilia drug market dominated by Shire took another blow with the Irish company winning a preliminary injunction over its Swiss rival's medication. Shire said its injunction in a court in Germany, where Roche presented data on its drug emicizumab on Monday, sought to remedy Roche's "incomplete and misleading" statements about the role of Shire's drug FEIBA in adverse events in Roche trials.
Roche's bid to muscle in on Shire's share of the $11 billion haemophilia drug market took a new, contentious turn this weekend when the British drugmaker won a court injunction against how the Swiss drugmaker talks about its new medicine. Shire's injunction on Sunday in a Hamburg, Germany, court alleges incomplete and misleading statements by Roche about its investigational emicizumab.
Pharmaceutical group Shire (Hamburg: 3979575.HM - news) said on Sunday it had obtained a preliminary injunction in a Hamburg court against rival Roche over its haemophilia drug emicizumab, alleging incomplete and misleading statements surrounding the treatment. Swiss drugmaker Roche is hoping to win a slice of the $11 billion-a-year haemophilia drug market with emicizumab, also known as ACE910 and designed to compete with more traditional treatments from Novo Nordisk (LSE: 0QIU.L - news) and Shire (Xetra: S7E.DE - news) .
The U.S. Food and Drug Administration on Tuesday approved Shire Plc's long-acting therapy for attention deficit hyperactivity disorder , adding another treatment to its stock of drugs for the cognitive ...
Shire, the pharma group that bought haemophilia specialist Baxalta last year, reported a better-than-expected 14 percent rise in first-quarter earnings, helped by higher sales of rare disease drugs and ...