Shire snaps up US partner for $2.6bn

Shire, the UK pharmaceuticals group, on Tuesday said it was paying $2.6bn in cash to acquire New River Pharmaceuticals, a US drugs group that specialises in treatments for attention deficit and hyperactivity disorder (ADHD), Shire’s main market.

The deal, which values New River at $64 a share, comes two years after Shire entered into a collaborative agreement with the US company to develop and co-promote an ADHD treatment known as Vyvanse. The US Food and Drug Administration is expected to approve the treatment by the end of this week.