Shire Shares Drop On Actelion Takeover Bid Report

MarketWatch Pulse

Shares in Shire PLC fell 1.9% in London on Monday after a Sunday Times report that the drug maker is eyeing a �12.4 billion ($18.9 billion) takeover of Swiss rival Actelion . Dublin-based Shire was turned down by biotech leader Actelion despite offering a 20 percent premium to the share price, media reports said. Shire, which counts ADHD treatment Intuniv among its key products, was itself the target of a takeover bid by U.S. pharmaceutical AbbVie Inc. [abbv] until the deal was scuppered late last year by changes in U.S. tax arrangements.

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