Actelion Focused on Biotech, May Not Be Good Fit for Shire: UBS
2015-06-08 10:36:48.677 GMT
By Allison Connolly
(Bloomberg) -- Buying Actelion could be accretive to
earnings but may distract Shire from its ultimate goal of
becoming a biotech company, UBS says in note.
* Doesn’t see it as a strategic fit and says Shire is unlikely
to come back with a higher offer if Actelion refused to open
the books with an offer at CHF160
* Says given uncertainties around Opsumit pricing, Selexipag
label and pricing as well as volatility around Tracleer
generic impact, unwillingness to open books at CHF160/shr
may mean their expectations are far higher
* Rates Actelion neutral, PT CHF135
* NOTE: Earlier, Actelion Rises to Record After Report it
Rebuffed Shire Approach
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
Gaurav Panchal
2015-06-08 10:36:48.677 GMT
By Allison Connolly
(Bloomberg) -- Buying Actelion could be accretive to
earnings but may distract Shire from its ultimate goal of
becoming a biotech company, UBS says in note.
* Doesn’t see it as a strategic fit and says Shire is unlikely
to come back with a higher offer if Actelion refused to open
the books with an offer at CHF160
* Says given uncertainties around Opsumit pricing, Selexipag
label and pricing as well as volatility around Tracleer
generic impact, unwillingness to open books at CHF160/shr
may mean their expectations are far higher
* Rates Actelion neutral, PT CHF135
* NOTE: Earlier, Actelion Rises to Record After Report it
Rebuffed Shire Approach
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
Gaurav Panchal