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AbbVie officially cancels $55B purchase of Shire

BIO SmartBrief | Oct 21, 2014

AbbVie announced that it has officially terminated its planned $55 billion acquisition of Irish drugmaker Shire, saying recent changes in U.S. tax laws are the reason. "The executive management team ultimately concluded that the transaction was no longer in the best interests of stockholders at the agreed-upon valuation, and the board fully supported that conclusion," AbbVie said. Shire will receive a $1.64 billion breakup payment from the U.S. drugmaker. Reuters (10/20) Daily Herald (Arlington Heights, Ill.) (10/20)


NewLink-Genentech's cancer drug collaboration could be worth over $1 billion

BIO SmartBrief | Oct 21, 2014

Report: Biotech, pharma and medtech see strong M&A activity

BIO SmartBrief | Oct 20, 2014

Wider use of Vertex's cystic fibrosis drug wins FDA panel support

BIO SmartBrief | Oct 22, 2014

Don't ignore the high costs and uncertainty of developing new drugs

BIO SmartBrief | Oct 21, 2014

Tekmira expects Ebola drug to be available in December

BIO SmartBrief | Oct 22, 2014

Nuvo Research licenses osteoarthritis pain drug to Horizon Pharma

BIO SmartBrief | Oct 20, 2014

Newly launched cancer immunotherapy startup gets $12M funding boost

BIO SmartBrief | Oct 22, 2014

Novartis' plaque psoriasis drug wins FDA panel backing

BIO SmartBrief | Oct 21, 2014

Bavarian Nordic partners with J&J unit to develop vaccine for Ebola, Marburg virus

BIO SmartBrief | Oct 23, 2014


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