UK's Shire to buy Germany's Jerini in 328M-euro deal, to add to HGT portfolio
Pursuing its strategy of finding opportunities in poorly-served therapeutic indications, UK drugmaker Shire has made an offer to acquire the German biotechnology firm Jerini AG, mostly to expand its portfolio of products in the area of human genetic therapies.
Through its Maia Elfte Vermogensverwaltungs-GmbH subsidiary, to be renamed Shire Deutschland Investments GmbH, Shire will launch a voluntary public takeover offer for shares in Jerini at 6.25 euros each, a premium of 71% to its closing price on July 2, valuing the German business at some 328.0 million euros ($516.9 million). The acquisition will be funded out of Shire's current cash resources and is expected to be accretive for non-GAAP earnings by the second half of 2010.
Gets access to lead compound Firazyr
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