Travel & Tourism Industry release:
TOKYO, April 20, 2018 /PRNewswire/ – Saga Nagoya Securities has recently reported and commented on the pharmaceutical company Allergan Plc as they fell nearly 5 percent on Friday, posting the biggest intraday percentage loss in over five months after the company pulled out of talks to buy a controlling stake in the drugs company Shire.
Allergan said in a filing to the U.K. regulators that it was engaged in negotiations to acquire Shire Plc, which has been recently at the center of a multibillion-dollar takeover battle.
Key research analysts at Saga Nagoya Securities said that the London-listed pharmaceutical company was on the radar of Japan’s Takeda Pharmaceutical Co Ltd, but the board of Shire had rejected its latest $62 billion offer. The talks between the two parties.
“There has been a lot of mergers and acquisitions in recent years within the pharmaceutical industry not only in the United States but worldwide and it doesn’t seem to be slowing down.” said Jonathan Richards, Corporate Trading at Saga Nagoya Securities.
Allergan has been ramping up its takeover ambitions as the company seeks growth overseas amid increased competition, pricing pressure, and patent challenges.
“The proposed deals significantly undervalue Shire’s current assets and its future potentials.” Highlighted Steven Phillips, Senior Vice President at Saga Nagoya Securities.
Analysts at Saga Nagoya Securities have stated that its key revenue drivers are failing to maintain momentum and will be prone to various pressures.
Japanese firm Takeda is now the sole public suitor after it has been eyeing controlling stake in Shire over the last few months. Takeda has already submitted three separate offers, but the board rejected them.
SOURCE Saga Nagoya Securities
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