Shire bid could be standout deal of the year

A near-$30 billion (€22.8bn) bid for Shire could emerge as the standout deal in the European pharmaceutical sector this year, a highlight for bankers in a market otherwise likely to be dominated by bolt-on acquisitions.

Shire — an Anglo-American specialist in hyperactivity and rare genetic diseases — has been tipped as the hottest takeover target in the sector since French drugmaker Sanofi acquired US biotech firm Genzyme early last year, a deal that showed there was appetite for rare disease drug specialists.

Since then Shire, which last week posted a 47% jump in fourth-quarter earnings, has been rumoured frequently as a takeover target.