Shire's $187.5 mil. purchase of Richwood will bring U.S. marketing presence.
Executive Summary
SHIRE TO GAIN U.S. MARKETING ARM THROUGH $185.7 MIL. RICHWOOD PURCHASE if the deal is approved by Shire shareholders Aug. 20, Hampshire, England-based Shire Pharmaceuticals said. The company announced Aug. 4 the proposed acquisition of Florence, Ky.-based Richwood Pharmaceuticals for $145.8 mil. in stock (31% of Shire's equity), $15 mil. in cash, and 7.2 mil. options valued at $24.9 mil. Richwood will be Shire's second acquisition this year: the company acquired the Gaithersburg, Md.-based drug delivery company Pharmavene in February for $90.5 mil.