Galen advises of possible offer talks

Galen Holdings has advised shareholders that it is in preliminary discussions which could lead to an offer for the company.

The pharmaceutical company said it noted the "recent rise in the company’s share price" but advised shareholders to take no further action.

Shares in the Craigavon-based firm have risen 10% to €9.10 on the Irish Stock Exchange this week.

A further statement will follow in due course according to a company spokesman.