Staff
U.S.-based AbbVie has reached a deal to acquire its European rival, Shire Pharmaceuticals, for about £32 billion ($58.6 billion).
“We believe that this offer reflects the substantial value that we have already created for Shire’s shareholders and the strength of our future prospects,” says Shire chair Susan Kilsby.
The companies say the combined company will have sustainable leadership positions within the areas of immunology, rare diseases, neuroscience and metabolic diseases.
“By combining AbbVie and Shire, we’re creating a unique, diversified biopharmaceutical company,” says Richard A. Gonzalez, AbbVie’s chairman and CEO.
AbbVie was spun off from Abbott Laboratories last year.