Shire confirms talks with US drug firm AbbVie over proposed £30bn deal

Deal would see AbbVie move address to UK and cut corporation tax in move that has triggered a backlash from Senate

British drug firm Shire Pharmaceuticals has confirmed it has held talks with US rival AbbVie after the American firm proposed combining the two drug makers in a £30bn ($ 51.34bn) deal.

Amid pressure from shareholders, Shire confirmed that talks had taken place in New York but were at an early stage. In a press release Shire said: "There can be no certainty that any firm offer will be made nor as to the terms on which any firm offer might be made." It "strongly advised" shareholders not to take any action in relation to AbbVie’s proposal.

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Pharmaceuticals industry | The Guardian

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