Boston, MA 06/03/2014 (wallstreetpr) – NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) is a biopharmaceutical company which basically focuses on delivering therapies and to ease the lives of patients that are suffering from some rare diseases. Lately, there was a rumor in the market that NPSP is Shire’s new takeover target and hence saw a rise in its stock on Friday.
Something about Shire Plc
Shire is Jersey registered, Irish-headquartered global specialty Biopharmaceutical Company that has made a significant way up the London Stock Exchange and is also a constituent of the FTSE 100 Index. Further, it has a market capitalization of approximately £17.1 billion and has a secondary listing on NASDAQ. This company keeps adding drugs for rare diseases to its portfolio so that it is not mainly dependent on best-selling pills rather aims to lead the market by supplying those rare-diseases drugs. And this was the expected reason Shire would want to takeover NPS Pharmaceuticals, Inc. (NASDAQ:NPSP).
NPSP’s Response
But when NPSP reported that neither it has it heard anything from Shire Plc (SHP) nor any of the representatives of Dublin-based drug companies to discuss the matter of possible acquisition, it was confirmed that this was no more than a rumor.NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) released such a statement because there was so much of an upside down due to “erroneous press reports” that the air had to be cleared. Further, the company went back to its policy of not commenting anything on rumors or speculations and made no promises to update the audience about this information and deal.
After NPS Pharmaceuticals, Inc. (NASDAQ:NPSP)’s statement, it was clear that Shire has not shown any interest in this potential deal. According to The Financial Times’ Alphaville website Shire rather made several possible cash offers to other companies as well like Bedminster, which is a New Jersey based company and is actively involved in making rare disease medicines.
