News
26 May 2011
UK's Third Largest Pharma to Make $2Bn Bid for Cubist
It is reported that the UK's third largest pharmaceutical firm could make a $2bn bid for US-based Cubist Pharmaceuticals.
Shire, the UK's third largest pharmaceutical firm, could make a $2bn bid for US-based Cubist Pharmaceuticals, reports the Daily Telegraph.
Shire is alleged to have approached Cubist last month with a $44.5 per share offer, with Morgan Stanley advising the company.
The approach marks an increase in activity for Shire following its recent acquisition of Advanced BioHealing, with the company keen to stack acquisitions to fend off any possible takeover approaches themselves.
Cubist is famed for its antibiotic Cubicin, which is used in the treatment of skin infections and MRSA.
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