British drugmaker Shire has agreed to buy New River Pharmaceuticals for $2.6 billion in cash to gain full control of the two firms' new drug for attention deficit hyperactivity disorder, Vyvanse.
Shire, Britain's third-biggest drugmaker, said on Tuesday it would pay for the deal with $2.3 billion of new debt facilities as well as a placing of new shares to raise about $800 million.
Shire were, at one stage, thought to be a takeover target for AstraZeneca, but that rumor has now quietened.
Source: Reuters
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