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Maryland-based pharmaceutical company AbbVie has made a play for Britain’s Shire.
Maryland-based pharmaceutical company AbbVie has made a play for Britain’s Shire.
(HANDOUT/REUTERS)

AbbVie needs to do more to breach Shire’s defences

Shire can thank AstraZeneca for showing it how a big pharmaceuticals group defends itself against an unsolicited takeover approach. Copying Astra, the Dublin-based, U.K.-listed drug maker is rushing out a punchy long-term sales forecast after AbbVie of the United States revealed a recent $46-billion (U.S.) takeover proposal. Unlike Astra’s projections, Shire’s need to be taken with only a standard-sized pinch of salt.