Tag Archives: shpg

AbbVie, Shire Give Bullish Guidance Amid Buyout Talk

Big pharma AbbVie (ABBV) raised its 2014 earnings guidance Monday, sending the company’s stock up 1.5% in morning trading on the stock market. Meanwhile, AbbVie’s buyout target Shire (SHPG) detailed its own bullish guidance in explaining to investors why it is worth more than the $46.5 billion AbbVie offered last week. AbbVie added six cents to its full-year EPS range, now $3.06 to $3.16. Analysts have modeled $3.14, which would be flat with the

Shire Rejects AbbVie’s $46 Bil Tax-Inversion Attempt

Specialty drugmaker and IBD 50 stock Shire (SHPG) has rejected three takeover offers from U.S. big pharma AbbVie (ABBV), with the most recent valued at $46.5 billion, the companies announced Friday. Shire’s stock vaulted nearly 18% in early trading on the stock market today, to an all-time high near 225.50, while AbbVie stock was up a fraction. The two companies have been talking since early May, when AbbVie offered 39.50 British pounds per Shire

Allergan Rejects Valeant; Shire Buying Lumena

The M&A action in specialty pharma continued Monday as Allergan (AGN) formally rejected a takeover offer while offering bullish guidance, and Shire (SHPG) got into the fatty-liver disease game by acquiring Lumena Pharmaceuticals. Allergan’s board unanimously rejected Valeant Pharmaceuticals’ (VRX) unsolicited $47 billion bid, not only charging that it undervalues the company but questioning the sustainability of Valeant’s buyout-driven business