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Shire set to make move for Cubist

Shire Pharmaceuticals is planning a takeover of US-based Cubist Pharmaceuticals in a multi-billion pound deal, according to a UK media report

Shire Pharmaceuticals is planning takeover of US-based Cubist Pharmaceuticals in a multi-billion pound deal, according to a UK media report.

An article in The Daily Telegraph claims industry rumours are suggesting that Shire approached Cubist about a month ago with a $44.5-a-share deal, and that the two companies have been in discussions since.

Shire, which acquired Advanced BioHealing last week in a £460m deal, is reported to be keen to expand as a way fending off potential bidders itself.

Cubist sells an antibiotic called Cubicin, which is used to treat complex skin infections and the superbug MRSA.

Speaking to PMLiVE, Shire said it declines to comment on industry speculation.

Cubist was available to comment at the time of writing.

24th May 2011

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