Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Joe, good question and one I wondered about too. I have written an email to the company to ask for clarification. Interestingly I note that the Head of IR has been removed. He was on notifications in Dec but there is now an Interim Global Head of Investor Relations on the Company notification that was released today (re Director notification). I wonder if Shire have, at last, recognised that their IR needs improving!
So am I to assume EOY review means EOY results, I.e early February...quite poor PR!
Well Shire are leaving it late to update on strategic review of Neuroscience division. I’m hoping it’s because of something bigger to tell us, perhaps offer or merger for whole company, but maybe that’s fanciful thinking, only time will tell. Either way we shouldn’t have long to wait now. Good luck all, let’s hope news is positive.
Joe, I agree. It does seem that the tax reforms also include the repatriation (and therefore readily usable) of overseas funds with little or no tax whereas in the past the funds had to be kept offshore to avoid the 35% tax. 2017 was a non event for Pharma M&A but 2018 should be more active. Whether this includes Shire, we shall see. But given the PE is way below historic levels and more importantly lower than rivals, Shire should be on the list for the really big boys. I would happily see any offer even if only in the 40s rather than 50s.
Being touted as a potential suitor for Shire, especially with the enabler of new tax regulations encouraging Aquisitions...very exciting time. The scene is well set for holders of Shire who haven’t had a lot to cheer for sometime to look forward to a much better end of year and 2018.
Red Tom, good post I reckon shire will be taken over in the next few months especially with the added lower corporate tax applied to overseas earnings in Trumps tax bill.
Shire has been tipped as the next big pharma takeover, causing the company’s shares to rally on the London stock exchange. The company could be one of many mega-merger to come in 2018: Washington is expected to pass new tax laws in the next few days which will allow US big pharma to spend billions on deals. According to press reports, led by the Daily Telegraph, several big pharma companies from the US and Europe are rumoured to be eyeing a takeover. Shares had slipped when Shire revealed that its treatment for cognitive problems associated with the rare disease Hunter syndrome had failed in a late-stage trial. But they quickly recovered because of the takeover rumours. There was no suggestion about which company would be a likely bidder – but Pfizer is known to be searching for a big acquisition after attempts to buy AstraZeneca in 2014 and then Allergan last year fell through. Headquartered in Dublin but listed in London, AbbVie walked away from a $54 billion takeover of Shire in 2014 because of US crackdown on tax inversion deals. The Obama administration took a strong stance against the deals, where large US companies reverse into a smaller takeover target based in a lower-tax country such as Ireland or the UK. Shire itself has been highly acquisitive, most notably with its $32 billion takeover of rare diseases firm Baxalta, which concluded last year. Shire’s share price has been on a downward spiral since then, and CEO Flemming Ornskov has suggested that the market did not appreciate the value of its pipeline of rare disease drugs. At today’s prices Shire is worth around $35 billion, as investors have been concerned about whether the takeover of Baxalta will prove successful in the longer term. Ornskov’s plan has been to pay off some of debts inherited through the Baxalta deal in tranches, while also talking up the value of some recently approved drugs. One example he cited in an interview with the Financial Times earlier this year is Mydayis, approved in the US for people suffering from attention deficit hyperactivity disorder (ADHD). The Republican tax reforms are expected to be passed into law before Christmas, and will include a reduction in corporation tax from 35% to 21%, bringing it much closer to comparable advanced economies. US companies will also no longer have to pay corporate taxes on income earned overseas – these will be taxed between 8 and 15.5% instead of the current 35%, allowing pharma to repatriate billions. These measures are expected to open the M&A floodgates for pharma in 2018 – even if industry CEOs have complained until now of a paucity of good value companies to acquire.
Rumours rife once again. Looking for substance finally.
I like the sound of some of the rumours out there, particularly the circa £50+ takeover. But we have been there before and nothing came of it. But maybe one of the big fat US Pharmas wants to add to its portfolio. Let's hope so. I'm going to be optimistic for once and predict a £52 price tag by March 2018.
Still racing ahead in America up over 4% now, when news today was poor, makes no sense. My guess is they have found a buyer for the ADHD franchise, just my take on it.
December contracts have-are ending . My guess is there wore more shorts hence so ended up. Earlier new shorts taken dropping sp 90points, 250 points daily swing that is more like shp. Tramp tax, mood swings, review announcements and general illogical market behaviour could pump sp up short term. Now that volatility might be back courtion for traders, only change in sentiment will sustain sp on up imo
IT did say rare syndrome...
This rise can’t be based on RNS news today, one was poor the other no more than ok, ordinarily this would have lost ground today. So possibly either shorts closing (it’s been kept down for so long now) or nods and winks in the market place is what I’m thinking.
Live price...3916
Heavy buying today, if I didn’t know better I’d say the markets are aware of something we don’t yet know!!
Yes, saw that. Not sure how big Hunter Syndrome is so hopefully not too much impact for SHP share price
Yes very strange trading atm, bad news earlier with trial fail but bouncing back up. I wonder if good news is imminent
Rumours about Neuro division starting to circulate. Will be very volatile
Potentially a big week awaits, possible news on ADHD franchise after a surge in the price at the end of last week, especially encouraged by strong finish stateside. Good luck to all those long, hoping any news is well received by markets.
Maybe I spoke too soon, our American friends are doing a sterling job of marching us back down again, it’s an incredibly consistent pattern. News on neuroscience division required by Flemming and co to finally put this market to rest and get us moving upwards again.also awaiting the BLA on lanadelumab potential blockbuster drug.
Not looking likely now I hope, powered through £36. News on ADHD spinoff already on the wind I wonder!
Given the current trend and complete absence of good or positive news, it would not surprise me if we saw sub 34 quite soon. There appears to be no bottom and this is at a time when markets (particularly US) are at an all time high. When bitcoin is worth $200,000,000,000 you know the financial world is completely bonkers and unpredictable!
It feels as though the market is putting the pressure on Shire to deliver news on shareholder value via the ADHD review, until then WE will keep the lid on this Share price.
Sinking again .