Shire's proposed purchase of New River progresses

UK-based drug maker Shire says that the Hart-Scott-Rodino Antitrust waiting period, with regard to its $2.6 billion tender offer for USA-based New River Pharmaceuticals, has expired. The firm added that consummation of the acquisition, which was first announced in last month (Marketletter February 26) is subject to approval by Shire's shareholders.

At the time Shire, said that the acquisition of New River will allow it to capture the full economic value of Vyvanse (lisdexamfetamine dimesylate), an attention-deficit and hyperactivity disorder treatment that the companies have been co-promoting since 2005 (Marketletters passim).