Shire to Buy NPS Pharmaceuticals for $5.2 Billion to Boost Drug Portfolio

Irish drugmaker Shire PLC said Sunday it will pay $5.2 billion to acquire NPS Pharmaceuticals, which specializes in drugs for rare conditions. The acquisition will expand Shire's portfolio of specialty drugs, medications for niche diseases and conditions that typically command much higher price tags than conventional medications. Shire's best-selling drugs currently include the attention deficit disorder drugs Vyvanse and Adderall XR. Under the agreement, Shire will acquire all outstanding shares of NPS for $46 per share in cash. Last fall Shire and U.S.-based drugmaker AbbVie abandoned a $55 billion deal to combine their companies. AbbVie's board got cold feet after the U.S. government created new limitations on the tax benefits of incorporating overseas.