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...Back in the late 1970s, Rimowa made a suitcase that incorporated a radio, with a great big unwieldy aerial sticking out of it....
...In January it revised its 2020 revenue target from $20bn — set at the time of its takeover of US biotech Baxalta — to between $17bn and $18bn....
...Here at Lex we’re all huge fans of Mr DJ Stormzy (we’ve heard of him, at any rate)....
...“We’re moving from blockbusters to niche-busters,” says Hilary Thomas, chief medical adviser at KPMG....
...Shire sold $12.1bn of debt to fund its takeover of Baxalta on Monday as the Irish pharmaceutical group sought to lock in low borrowing costs in the year’s eighth largest bond sale....
...There is more public debate on pricing, and we’re extremely well positioned....
...As Goldman boss Lloyd Blankfein put it: “We’re a bank …We should act like one.”...
...Even assuming this target is hit, and another, say, $125m a year is shaved off Baxalta’s tax bill by re-domiciling it in Ireland, the savings are not enough to justify the near-$8bn premium Shire is paying...
...The Dublin-based company has been trying to re-brand itself as an innovative biotech company focused on high-value rare disease treatments –a strategy which will be boosted by the addition of Baxalta’s treatments...
...“That may not be a big issue,” the HSBC analysts say but it may “limit” Shire’s ability to re-organise its businesses in the short-term....
...They’re important. Note that Sobi CEO Geoffery McDonough said on a results call in late April that the company is not for sale and is confident of its standalone strength....
...which hived off Baxalta....
...“We’re good at multitasking,” he said....
...“Whilst Baxalta may not have been Shire’s best M&A option in our view, it is nonetheless a value-enhancing deal,” said Exane....
...Shire, the Anglo-Irish drugmaker, kicked off proceedings by announcing its long-awaited $32bn takeover of US-based Baxalta on Monday....
...“I don’t think we’re done [with M&A]. Gilead raising $10bn in debt means they are probably looking to make a move.”...
...“We’re not withdrawing it, but we will have to add some variables like capital deployment and timing of capital deployment.”...
...In addition to drawing inspiration from Bauhaus modernism, this new movement also incorporated influences such as cubism and African art....
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