Shire to acquire NPS Pharma in gastrointestinal and rare disease knowledge-share

Shire is to acquire all outstanding shares of NPS Pharmaceuticals for $46.00 per share in cash, for a total consideration of approximately $5.2 billion.

The specialist biopharma firm will accelerate the growth of NPS Pharma’s portfolio with its experience in gastrointestinal (GI) disorders and rare disease patient management - as well as a global footprint. The transaction has been approved unanimously by the Boards of Directors of both Shire and NPS Pharma.

NPS Pharma is a rare disease-focused biopharmaceutical company and its first product, Gattex/Revestive for injection, is approved in the United States and Europe to treat adults with short bowel syndrome (SBS) who are dependent on parenteral support. NPS Pharma also has a registration phase product, Natpara/Natpar (rhPTH -83) for the treatment of hypoparathyroidism (HPT).

The $46.00 per share price in the transaction represents a 51% premium to NPS Pharma's unaffected share price of $30.47 on December 16, 2014.

In Europe, Revestive is indicated for the treatment of adult patients with short bowel syndrome who should be stable following a period of intestinal adaptation after surgery.

Shire’s Chief Executive Officer, Flemming Ornskov, MD, MPH, commented: “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, commercialise 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 maximising value from acquired assets and commercial execution. The NPS Pharma organisation will be a welcome addition to Shire as we continue to help transform the lives of patients with rare diseases.”

Francois Nader, MD, President, Chief Executive Officer and Director of NPS Pharma, stated: “Shire shares NPS Pharma’s commitment to patients with rare diseases. We believe that joining our two companies will drive value for shareholders and ensure we continue to transform the lives of patients with short bowel syndrome, hypoparathyroidism, and autosomal dominant hypocalcemia worldwide. I am confident that this transaction will accelerate our ambition of creating a world where every person living with a rare disease has a therapy.

I would like to thank all of our employees for their continued outstanding contributions and steadfast commitment to the patients we serve.”