Shire agrees $4.2bn ViroPharma takeover

Shire has announced that it will be acquiring fellow healthcare company ViroPharma in a strategically important deal worth $4.2 billion (2.65 billion pounds).

ViroPharma is a high-growth specialist developer of new therapies for rare diseases and is responsible for the creation of Cinryze, a leading brand for the prophylactic treatment of hereditary angioedema.

Its total worldwide net revenues are forecast to be in the range of $445 million to $465 million in 2013.

The acquisition of the company will help to expand Shire's rare disease portfolio and research capabilities, while enhancing its short and long-term revenue growth profile. In particular, the addition of Cinryze complements Shire's existing offering, Firazyr.

Shire's chief executive officer Dr Flemming Ornskov said: "This acquisition is expected to create a $2 billion rare disease revenue base and delivers further strong growth prospects."

Last month, the company announced its financial report for the third quarter of 2013, during which it achieved a revenue total of $1.24 billion, up by 12 percent year on year.