American Depositary Shares of Shire (SHPG) edged up 0.3% in recent pre-market trading on Monday, following the biopharmaceutical company’s acquisition of Lumena Pharmaceuticals, a company with late stage rare disease pipeline assets.
SHPG will acquire Lumena for an upfront payment of $260 million in cash, plus a payment for net cash at closing, and near-term contingent milestone payments related to ongoing clinical trials. It does not expect the acquisition of Lumena to result in a change to its previously stated earnings guidance for 2014.
SHPG closed at $168.15 Friday, in a 52-week range of $91.81 – $180.91.
Latest posts by Anne-Marie Jackson (see all)
- SF Hospital Slaps New Parents with $19K Bill for Baby Treatment - Jun 29, 2018
- Furious Trump Blasts Harley-Davidson for Moving Production Overseas - Jun 28, 2018
- Warning! MRI Machines Could Poison You - Jun 27, 2018