Company news: FDA, Shire, Bayer
Shire announced Monday that it is digging deep into rare diseases next year. The company's research will culminate in a 2013 rare diseases impact report that will outline the” health, psycho-social, societal and economic impact of rare disease in patient and medical communities.” The report will be based on research that includes surveys of patients, caregivers, physicians, payers and thought leaders in the US and UK. President of Shire's Human Genetic Therapies division Sylvie Gregoire said in a statement that one of the report's goals is to provide “new, unique insights on how best to address the holistic needs of the rare disease community and drive important conversations and innovation.”
Bayer HealthCare decided not to enter a bidding war for Schiff Nutrition, the vitamin and supplement supplier it agreed to acquire on Oct. 30, deferring to Reckitt Benckiser Group's roughly $1.4-billion counterbid. According to an SEC filing made today by Schiff, Bayer's board concluded that entering a competitive bidding process for the US OTC maker “would result in a price outside Bayer's set financial criteria.” Reckitt Benckiser's counterbid, commenced on Nov. 16, valued Schiff at a 23.5% premium, or $200 million, over Bayer's initial $1.2-billion offer. “Having completed a number of successful acquisitions, Bayer plans to continue its strategy to augment organic growth with strategic bolt-on acquisitions,” said the firm, according to the SEC filing.