Published by Alex Bueso on 2nd June 2014
Shire has lined up a $5bn credit facility from banks led by Citigroup to finance a takeover offer for NPS Pharmaceuticals, an American developer of a new drug for sufferers of a debilitating bowel condition. An initial approach to NPS by Shire has been rebuffed, according to insiders. However, a former London hospital doctor with ties to both companies is acting as a go-between. NPS won regulatory approval for a drug to treat short bowel syndrome — a condition in which the intestine is too short to absorb nutrients, usually after surgery for digestive illnesses. – The Times