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.
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