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I am a Director of Research and Devopment for a leading supplier to biopharmaceutical producers. The views expressed are mine. I do not speak for any company or corporation.
Shire has extended its tender offer to buy ViroPharma for a second time, now expiring on midnight January 23. The tender offer was originally scheduled to expire at midnight January 9th. Shire indicates that it has received valid acceptances representing 78% of ViroPharma's stock.
Shire agreed to buy ViroPharma for around $4.2 billion in cash in November. This will give it access to the hereditary angioedema drug Cinryze which complements its own HAE drug Firazyr (icatibant). The purchase is expected to help the firm's rare diseases business revenues pass $2 billion this year and Shire is looking at $150 million of annual cost synergies across the group by 2015. See PharmaTimes.