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Shire to buy rare disease specialist Dyax for $5.9 billion

Staff writer |
Shire plc has agreed to buy U.S. rare disease specialist Dyax for about $5.9 billion and potentially up to $6.5 billion.

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The offer price of $37.30 per share represents a 35.5 percent premium to Dyax's closing stock price on Friday.

Dyax shareholders will also get a non-tradable contingent value right potentially worth $4.00 a share, or an additional $646 million, if Dyax's DX-2930 drug, which could reach the market in 2018, is approved for hereditary angioedema (HAE).

Shire believes DX-2930 has potential to expand the number of HAE patients treated and achieve annual worldwide sales of up to $2 billion, while enjoying exclusivity beyond 2030.

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